272 Capital LP Reduces Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

272 Capital LP reduced its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 82.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,724 shares of the Wireless communications provider's stock after selling 96,412 shares during the quarter. 272 Capital LP's holdings in Telephone and Data Systems were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Telephone and Data Systems by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider's stock worth $124,761,000 after acquiring an additional 507,512 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Telephone and Data Systems by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider's stock worth $55,058,000 after purchasing an additional 206,819 shares in the last quarter. Millennium Management LLC grew its stake in shares of Telephone and Data Systems by 34.0% in the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider's stock worth $40,430,000 after buying an additional 495,189 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Telephone and Data Systems by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider's stock valued at $34,035,000 after buying an additional 103,114 shares in the last quarter. Finally, Silver Point Capital L.P. purchased a new position in Telephone and Data Systems during the third quarter valued at $29,062,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TDS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Raymond James raised Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 target price on the stock in a report on Thursday, November 7th.

Telephone and Data Systems Price Performance

Shares of TDS traded up $0.06 during mid-day trading on Friday, hitting $34.18. 314,036 shares of the stock were exchanged, compared to its average volume of 1,151,947. The firm has a 50-day moving average of $28.09 and a two-hundred day moving average of $23.52. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $34.76. The company has a market cap of $3.86 billion, a PE ratio of -6.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.19. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) EPS. On average, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -2.96%.

About Telephone and Data Systems

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.