Bank of New York Mellon Corp Trims Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Bank of New York Mellon Corp lowered its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 875,784 shares of the Wireless communications provider's stock after selling 44,005 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Telephone and Data Systems worth $33,928,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TDS. Proficio Capital Partners LLC bought a new position in Telephone and Data Systems in the 4th quarter worth $2,422,000. Raymond James Financial Inc. purchased a new stake in Telephone and Data Systems in the 4th quarter worth $5,619,000. Amundi lifted its stake in Telephone and Data Systems by 99.3% in the 4th quarter. Amundi now owns 60,920 shares of the Wireless communications provider's stock worth $2,037,000 after purchasing an additional 30,350 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Telephone and Data Systems in the 4th quarter worth $207,000. Finally, Farther Finance Advisors LLC lifted its stake in Telephone and Data Systems by 74.5% in the 4th 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 in the last quarter. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

Shares of NYSE TDS traded down $0.36 during mid-day trading on Wednesday, hitting $38.24. 1,249,378 shares of the company's stock traded hands, compared to its average volume of 992,121. The company's 50-day moving average is $34.96 and its two-hundred day moving average is $35.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.74 and a quick ratio of 1.55. The company has a market capitalization of $4.36 billion, a P/E ratio of -36.42 and a beta of 0.51. Telephone and Data Systems, Inc. has a 1 year low of $17.90 and a 1 year high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a negative net margin of 1.03% and a positive return on equity of 0.73%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, June 16th. Telephone and Data Systems's dividend payout ratio is -15.24%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

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.