Highbridge Capital Management LLC Sells 263,845 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Highbridge Capital Management LLC reduced its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 96.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the Wireless communications provider's stock after selling 263,845 shares during the quarter. Highbridge Capital Management LLC's holdings in Telephone and Data Systems were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TCW Group Inc. lifted its stake in shares of Telephone and Data Systems by 3.2% in the 3rd quarter. TCW Group Inc. now owns 566,832 shares of the Wireless communications provider's stock valued at $13,179,000 after purchasing an additional 17,400 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Telephone and Data Systems in the fourth quarter valued at approximately $246,000. CWA Asset Management Group LLC bought a new position in shares of Telephone and Data Systems during the 4th quarter worth approximately $710,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Telephone and Data Systems during the 3rd quarter worth approximately $1,574,000. Finally, Consolidated Planning Corp increased its stake in shares of Telephone and Data Systems by 35.4% in the 4th quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider's stock valued at $1,314,000 after acquiring an additional 10,063 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Telephone and Data Systems Stock Up 1.7 %

NYSE:TDS traded up $0.64 on Tuesday, hitting $39.38. The stock had a trading volume of 201,202 shares, compared to its average volume of 1,068,419. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52 week low of $14.04 and a 52 week high of $41.21. The business's fifty day moving average is $36.54 and its 200 day moving average is $32.41. The company has a market cap of $4.49 billion, a PE ratio of -7.30 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate 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 research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -18.60%.

Telephone and Data Systems Company 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.