Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Empyrean Capital Partners LP

Empyrean Capital Partners LP reduced its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,000 shares of the Wireless communications provider's stock after selling 50,000 shares during the quarter. Empyrean Capital Partners LP owned about 0.29% of Telephone and Data Systems worth $11,086,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth $41,000. Federated Hermes Inc. acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth $56,000. SBI Securities Co. Ltd. acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth $74,000. Farther Finance Advisors LLC lifted its holdings 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 worth $92,000 after purchasing an additional 1,156 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Telephone and Data Systems by 139.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock worth $128,000 after purchasing an additional 2,186 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TDS has been the subject of several research analyst reports. Raymond James reiterated an "outperform" rating and issued a $47.00 price objective (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock traded up $0.61 during midday trading on Friday, reaching $34.57. 604,110 shares of the company were exchanged, compared to its average volume of 1,056,998. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -6.40 and a beta of 0.57. The firm's 50-day simple moving average is $36.01 and its 200-day simple moving average is $34.88. Telephone and Data Systems, Inc. has a 1 year low of $16.64 and a 1 year high of $41.21. 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 posted its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

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.