Telephone and Data Systems, Inc. (NYSE:TDS) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. lifted its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,801 shares of the Wireless communications provider's stock after purchasing an additional 28,671 shares during the period. Congress Asset Management Co. owned about 0.19% of Telephone and Data Systems worth $7,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TDS. CWM LLC increased its stake in shares of Telephone and Data Systems by 26.8% in the 3rd quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider's stock valued at $116,000 after purchasing an additional 1,056 shares in the last quarter. Creative Planning increased its stake in shares of Telephone and Data Systems by 8.1% in the 3rd quarter. Creative Planning now owns 13,301 shares of the Wireless communications provider's stock valued at $309,000 after purchasing an additional 997 shares in the last quarter. Everence Capital Management Inc. increased its stake in shares of Telephone and Data Systems by 7.3% in the 3rd quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider's stock valued at $299,000 after purchasing an additional 870 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Telephone and Data Systems in the 3rd quarter valued at about $1,208,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Telephone and Data Systems by 13.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider's stock valued at $10,900,000 after purchasing an additional 55,434 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

NYSE:TDS traded down $0.83 during trading hours on Wednesday, hitting $39.48. 1,149,048 shares of the stock were exchanged, compared to its average volume of 775,267. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm's fifty day moving average price is $35.44 and its 200 day moving average price is $29.53. The company has a market cap of $4.46 billion, a P/E ratio of -7.31 and a beta of 0.80. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $41.21.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.04 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -2.96%.

Analyst Ratings Changes

TDS has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Raymond James upgraded Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price objective for the company in a research note on Thursday, November 7th.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.