Pinnacle Associates Ltd. Trims Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Pinnacle Associates Ltd. reduced its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 351,805 shares of the Wireless communications provider's stock after selling 34,168 shares during the period. Pinnacle Associates Ltd. owned about 0.31% of Telephone and Data Systems worth $13,629,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Third Point LLC grew its holdings 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 purchasing an additional 3,125,000 shares during the period. Gabelli Funds LLC grew its holdings in Telephone and Data Systems by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider's stock valued at $64,801,000 after purchasing an additional 20,721 shares during the period. Carronade Capital Management LP acquired a new stake in Telephone and Data Systems in the fourth quarter valued at approximately $62,845,000. Silver Point Capital L.P. grew its holdings in Telephone and Data Systems by 47.2% in the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock valued at $62,762,000 after purchasing an additional 590,000 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of Telephone and Data Systems by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 1,465,935 shares of the Wireless communications provider's stock valued at $50,003,000 after acquiring an additional 6,914 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Trading Up 0.4%

NYSE TDS traded up $0.15 on Friday, reaching $40.05. 3,423,663 shares of the company were exchanged, compared to its average volume of 1,349,458. The business's fifty day moving average price is $35.57 and its 200 day moving average price is $35.85. The stock has a market capitalization of $4.57 billion, a P/E ratio of -38.15 and a beta of 0.51. 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, Inc. has a fifty-two week low of $17.90 and a fifty-two week high of $42.74.

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

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Analyst Ratings Changes

TDS has been the topic of several research reports. Raymond James Financial restated an "outperform" rating and issued a $49.00 target price (up previously from $47.00) on shares of Telephone and Data Systems in a research report on Friday. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. decreased their target price on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th.

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.