Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 364,001 shares of the Wireless communications provider's stock after selling 108,580 shares during the period. Advisors Asset Management Inc. owned 0.32% of Telephone and Data Systems worth $12,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in shares of Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock valued at $82,000 after purchasing an additional 303 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Telephone and Data Systems by 8.3% during the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider's stock valued at $196,000 after purchasing an additional 440 shares in the last quarter. Quarry LP boosted its stake in shares of Telephone and Data Systems by 35.5% during the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider's stock valued at $61,000 after purchasing an additional 692 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Telephone and Data Systems by 74.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock valued at $92,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Independence Bank of Kentucky bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $41,000. 80.00% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 24th.

Telephone and Data Systems Stock Up 2.0 %

NYSE:TDS traded up $0.74 during midday trading on Friday, reaching $36.81. 2,029,251 shares of the stock traded hands, compared to its average volume of 1,018,151. Telephone and Data Systems, Inc. has a 12-month low of $14.04 and a 12-month high of $41.21. The business has a 50-day moving average of $36.14 and a two-hundred day moving average of $31.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market capitalization of $4.20 billion, a PE ratio of -6.82 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.23. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. On average, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.04 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. Telephone and Data Systems's dividend payout ratio is currently -18.60%.

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.