Rhumbline Advisers Trims Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Rhumbline Advisers cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,128 shares of the Wireless communications provider's stock after selling 10,607 shares during the period. Rhumbline Advisers owned 0.26% of Telephone and Data Systems worth $11,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TDS. Third Point LLC increased its holdings in Telephone and Data Systems by 108.7% during the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after acquiring an additional 3,125,000 shares during the period. American Century Companies Inc. grew its position in shares of Telephone and Data Systems by 6.7% during the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock valued at $110,161,000 after purchasing an additional 203,897 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of 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 worth $64,801,000 after purchasing an additional 20,721 shares during the period. Carronade Capital Management LP purchased a new stake in shares of Telephone and Data Systems in the fourth quarter worth $62,845,000. Finally, Silver Point Capital L.P. raised its position in shares of 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 worth $62,762,000 after buying an additional 590,000 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. 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. Wall Street Zen downgraded Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Finally, Raymond James reaffirmed an "outperform" rating and set a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

Telephone and Data Systems Stock Down 3.3%

TDS stock traded down $1.14 during midday trading on Friday, hitting $33.14. The stock had a trading volume of 563,709 shares, compared to its average volume of 994,714. Telephone and Data Systems, Inc. has a 52-week low of $17.90 and a 52-week high of $41.21. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -6.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The business has a 50-day moving average of $35.05 and a two-hundred day moving average of $35.41.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly 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 business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company's revenue was down 8.6% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. As a group, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.04 per share. 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 presently -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.