Bank of America Corp DE Raises Stake in Telephone and Data Systems, Inc. $TDS

Bank of America Corp DE increased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 407,109 shares of the Wireless communications provider's stock after purchasing an additional 70,358 shares during the period. Bank of America Corp DE owned 0.36% of Telephone and Data Systems worth $17,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TDS. Salomon & Ludwin LLC increased its position in shares of Telephone and Data Systems by 51.3% in the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider's stock worth $28,000 after purchasing an additional 231 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Telephone and Data Systems during the 3rd quarter valued at $33,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Telephone and Data Systems by 2,779.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider's stock valued at $46,000 after purchasing an additional 1,084 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Telephone and Data Systems by 29.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider's stock valued at $46,000 after purchasing an additional 245 shares during the period. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Telephone and Data Systems during the first quarter valued at about $90,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

NYSE TDS opened at $34.59 on Friday. Telephone and Data Systems, Inc. has a 1 year low of $31.51 and a 1 year high of $49.12. The business's fifty day moving average is $35.58 and its two-hundred day moving average is $40.77. The stock has a market capitalization of $3.98 billion, a P/E ratio of 11.53 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.81 and a current ratio of 3.82.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $0.09 by $2.15. Telephone and Data Systems had a return on equity of 11.97% and a net margin of 33.20%.The business had revenue of $309.28 million during the quarter, compared to analyst estimates of $315.78 million. During the same period last year, the company posted ($0.05) EPS. The company's revenue was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Telephone and Data Systems, Inc. will post -0.24 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Telephone and Data Systems's dividend payout ratio (DPR) is 5.33%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. JPMorgan Chase & Co. cut their target price on Telephone and Data Systems from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Wednesday. Citigroup decreased their price target on Telephone and Data Systems from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Raymond James Financial cut Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a research report on Monday, May 11th. Finally, Zacks Research raised Telephone and Data Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.

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