CenterBook Partners LP Sells 227,992 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Key Points

• CenterBook Partners LP significantly reduced its stake in Telephone and Data Systems, Inc. by 77.8% in Q1, leaving them with only 65,151 shares valued at approximately $2.5 million.
• Several institutional investors have recently adjusted their positions, with holdings increasing as others sold, illustrating the fluctuating interest in Telephone and Data Systems.
• The company announced a quarterly dividend of $0.04 per share, representing an annualized yield of 0.4%, reflecting its commitment to returning value to shareholders.

CenterBook Partners LP reduced its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 77.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 65,151 shares of the Wireless communications provider's stock after selling 227,992 shares during the quarter. CenterBook Partners LP owned 0.06% of Telephone and Data Systems worth $2,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its holdings in shares of Telephone and Data Systems by 98.9% in the 1st quarter. Atria Wealth Solutions Inc. now owns 19,104 shares of the Wireless communications provider's stock worth $740,000 after buying an additional 9,500 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 44.7% in the 1st quarter. New Age Alpha Advisors LLC now owns 157,749 shares of the Wireless communications provider's stock worth $6,111,000 after buying an additional 48,756 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 21.1% in the 1st quarter. Natixis Advisors LLC now owns 41,711 shares of the Wireless communications provider's stock worth $1,615,000 after buying an additional 7,265 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Telephone and Data Systems by 121.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after buying an additional 737 shares during the last quarter. Finally, Vestcor Inc purchased a new position in shares of Telephone and Data Systems in the 1st quarter worth about $3,874,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TDS. Wall Street Zen downgraded shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Saturday. Raymond James Financial restated an "outperform" rating and issued a $49.00 price objective (up from $47.00) on shares of Telephone and Data Systems in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. lowered their price objective on 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.

Telephone and Data Systems Stock Performance

Telephone and Data Systems stock traded up $0.50 during midday trading on Friday, reaching $38.77. The stock had a trading volume of 1,442,021 shares, compared to its average volume of 1,449,416. Telephone and Data Systems, Inc. has a 12 month low of $19.85 and a 12 month high of $42.74. The firm's 50-day moving average price is $36.49 and its 200 day moving average price is $36.16. The firm has a market capitalization of $4.42 billion, a PE ratio of -36.92 and a beta of 0.54. The company has a quick ratio of 1.55, a current ratio of 1.74 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems's dividend payout ratio is presently -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.