Edgestream Partners L.P. Purchases New Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Edgestream Partners L.P. bought a new stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 151,631 shares of the Wireless communications provider's stock, valued at approximately $5,874,000. Edgestream Partners L.P. owned about 0.13% of Telephone and Data Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of TDS. Federated Hermes Inc. acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $56,000. Farther Finance Advisors LLC increased its position in shares of Telephone and Data Systems by 74.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock valued at $92,000 after acquiring an additional 1,156 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Telephone and Data Systems by 85.6% in the fourth quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock valued at $139,000 after acquiring an additional 1,887 shares during the last quarter. United Capital Financial Advisors LLC acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $201,000. Finally, Greenleaf Trust acquired a new stake in shares of Telephone and Data Systems in the first quarter valued at about $202,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of NYSE:TDS traded down $0.54 during trading on Thursday, reaching $37.69. 1,404,776 shares of the stock were exchanged, compared to its average volume of 993,006. Telephone and Data Systems, Inc. has a 12 month low of $17.90 and a 12 month high of $41.21. The firm has a market cap of $4.30 billion, a PE ratio of -35.89 and a beta of 0.51. The stock has a 50-day moving average price of $35.04 and a 200-day moving average price of $35.67. The company has a current ratio of 1.74, a quick ratio of 1.55 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued 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 positive return on equity of 0.73% and a negative net margin of 1.03%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue was down 8.6% on a year-over-year basis. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

Analyst Ratings Changes

TDS has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, JPMorgan Chase & Co. reduced their price target on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th.

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.