Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 680,959 shares of the Wireless communications provider's stock after selling 66,818 shares during the period. Bank of America Corp DE owned approximately 0.60% of Telephone and Data Systems worth $23,228,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Third Point LLC boosted its stake in Telephone and Data Systems by 108.7% in the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after buying an additional 3,125,000 shares in the last quarter. Norges Bank acquired a new position in shares of Telephone and Data Systems in the fourth quarter worth approximately $23,776,000. American Century Companies Inc. increased its holdings in Telephone and Data Systems by 6.7% in 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 purchasing an additional 203,897 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Telephone and Data Systems by 42.3% during the 4th quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider's stock worth $22,260,000 after purchasing an additional 194,136 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at approximately $6,571,000. Institutional investors own 80.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TDS. Raymond James reiterated an "outperform" rating and set a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 24th.

Telephone and Data Systems Trading Down 0.9%

NYSE TDS traded down $0.29 on Friday, hitting $33.54. The company's stock had a trading volume of 836,982 shares, compared to its average volume of 1,050,230. Telephone and Data Systems, Inc. has a 52-week low of $16.64 and a 52-week high of $41.21. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The company's 50-day simple moving average is $35.89 and its 200 day simple moving average is $35.18. The firm has a market cap of $3.82 billion, a P/E ratio of -6.21 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.04 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.48%. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

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.