Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Telephone and Data Systems, Inc. by 47.5% in the 1st quarter, with current holdings worth $837,000.
• Institutional investors hold 80.00% of the company's stock, indicating significant confidence from large financial entities.
• Telephone and Data Systems recently announced a quarterly dividend of $0.04 per share, translating to an annualized dividend yield of 0.4%.

Mackenzie Financial Corp cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 47.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,608 shares of the Wireless communications provider's stock after selling 19,556 shares during the period. Mackenzie Financial Corp's holdings in Telephone and Data Systems were worth $837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth approximately $56,000. Lazard Asset Management LLC raised its stake in shares of Telephone and Data Systems by 85.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock worth $139,000 after buying an additional 1,887 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of Telephone and Data Systems during the 1st quarter worth approximately $200,000. United Capital Financial Advisors LLC purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth approximately $201,000. Finally, Greenleaf Trust purchased a new position in shares of Telephone and Data Systems during the 1st quarter worth approximately $202,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TDS has been the subject of a number of analyst reports. Wall Street Zen downgraded Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Saturday. JPMorgan Chase & Co. lowered their price target on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. Finally, Raymond James Financial restated an "outperform" rating and issued a $49.00 price target (up previously from $47.00) on shares of Telephone and Data Systems in a report on Friday, July 25th.

Telephone and Data Systems Price Performance

Shares of TDS traded up $0.50 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. 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. The firm has a 50-day moving average of $36.49 and a 200 day moving average of $36.16. Telephone and Data Systems, Inc. has a twelve month low of $19.85 and a twelve month high of $42.74.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. 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.