JPMorgan Chase & Co. Lowers Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

JPMorgan Chase & Co. lowered its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 33.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 458,467 shares of the Wireless communications provider's stock after selling 231,674 shares during the period. JPMorgan Chase & Co. owned about 0.41% of Telephone and Data Systems worth $10,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TDS. Franklin Resources Inc. increased its holdings in Telephone and Data Systems by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 78,508 shares of the Wireless communications provider's stock valued at $1,855,000 after purchasing an additional 1,938 shares during the period. World Investment Advisors LLC bought a new stake in Telephone and Data Systems in the third quarter valued at $294,000. TCW Group Inc. increased its position in Telephone and Data Systems by 3.2% during 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. Geode Capital Management LLC raised its holdings in Telephone and Data Systems by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider's stock worth $53,278,000 after purchasing an additional 43,470 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Telephone and Data Systems during the 3rd quarter valued at about $363,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of TDS opened at $32.47 on Monday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -6.01 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 12 month low of $13.69 and a 12 month high of $35.39. The business's fifty day simple moving average is $33.24 and its two-hundred day simple moving average is $26.50.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned ($0.16) EPS. Telephone and Data Systems's revenue was down 4.2% on a year-over-year basis. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 16th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -2.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of 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 raised shares of 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 research report 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.