Verition Fund Management LLC Acquires 59,647 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Verition Fund Management LLC increased its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 335.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,427 shares of the Wireless communications provider's stock after purchasing an additional 59,647 shares during the quarter. Verition Fund Management LLC owned approximately 0.07% of Telephone and Data Systems worth $1,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Telephone and Data Systems by 9.2% in 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 buying an additional 507,512 shares during the period. American Century Companies Inc. increased its holdings in 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 acquiring an additional 206,819 shares in the last quarter. Millennium Management LLC raised its stake in Telephone and Data Systems by 34.0% during the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider's stock worth $40,430,000 after acquiring an additional 495,189 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 worth $34,035,000 after acquiring an additional 103,114 shares during the period. Finally, FMR LLC boosted its position in shares of Telephone and Data Systems by 0.3% in the third quarter. FMR LLC now owns 1,152,579 shares of the Wireless communications provider's stock worth $26,797,000 after purchasing an additional 3,002 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TDS shares. JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the company an "overweight" rating in a research report 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 target for the company in a research note on Thursday, November 7th.

Telephone and Data Systems Price Performance

TDS stock traded up $0.06 during midday trading on Friday, hitting $34.62. The company's stock had a trading volume of 600,383 shares, compared to its average volume of 1,090,693. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -6.41 and a beta of 0.81. 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 12 month low of $13.69 and a 12 month high of $34.78. The company has a 50 day moving average of $29.18 and a two-hundred day moving average of $23.96.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.19. The company 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%. Telephone and Data Systems's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. On average, analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS 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. Investors of record on Monday, December 16th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. Telephone and Data Systems's dividend payout ratio is currently -2.96%.

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.