Telephone and Data Systems, Inc. (NYSE:TDS) Stake Trimmed by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,175 shares of the Wireless communications provider's stock after selling 96,843 shares during the quarter. Point72 Asset Management L.P. owned about 0.33% of Telephone and Data Systems worth $12,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $246,000. Norges Bank bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $23,776,000. Consolidated Planning Corp raised its stake in shares of Telephone and Data Systems by 35.4% during the fourth quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider's stock valued at $1,314,000 after purchasing an additional 10,063 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $203,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $2,422,000. 80.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TDS shares. JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Raymond James reaffirmed an "outperform" rating and set a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

Telephone and Data Systems Price Performance

NYSE:TDS traded down $0.29 during mid-day trading on Friday, reaching $33.54. 836,982 shares of the stock were exchanged, compared to its average volume of 1,050,230. The business has a fifty day moving average price of $35.89 and a 200 day moving average price of $35.18. The firm has a market capitalization of $3.82 billion, a PE ratio of -6.21 and a beta of 0.57. Telephone and Data Systems, Inc. has a 1-year low of $16.64 and a 1-year high of $41.21. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results 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). The firm 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 1.12% and a negative net margin of 10.72%. Telephone and Data Systems's revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Research analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Telephone and Data Systems 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.