Envestnet Asset Management Inc. Cuts Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Envestnet Asset Management Inc. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,999 shares of the Wireless communications provider's stock after selling 8,817 shares during the period. Envestnet Asset Management Inc.'s holdings in Telephone and Data Systems were worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TDS. American Century Companies Inc. boosted its position in Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock worth $110,161,000 after acquiring an additional 203,897 shares during the last quarter. Norges Bank acquired a new position in Telephone and Data Systems during the fourth quarter worth about $23,776,000. JPMorgan Chase & Co. boosted its position in Telephone and Data Systems by 42.3% during the fourth quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider's stock worth $22,260,000 after acquiring an additional 194,136 shares during the last quarter. TCW Group Inc. boosted its position in Telephone and Data Systems by 0.9% during the fourth quarter. TCW Group Inc. now owns 572,132 shares of the Wireless communications provider's stock worth $19,515,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Telephone and Data Systems by 6.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 558,653 shares of the Wireless communications provider's stock worth $19,055,000 after acquiring an additional 35,503 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $37.49 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -6.94 and a beta of 0.62. The company's 50-day moving average is $36.20 and its two-hundred day moving average is $34.40. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21.

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) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates 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%. Analysts forecast 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.43%. Telephone and Data Systems's payout ratio is -18.60%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on shares of 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.