Telephone and Data Systems, Inc. (NYSE:TDS) Shares Acquired by Summit Global Investments

Summit Global Investments boosted its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 54.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,010 shares of the Wireless communications provider's stock after purchasing an additional 7,431 shares during the period. Summit Global Investments' holdings in Telephone and Data Systems were worth $814,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in Telephone and Data Systems during the fourth quarter worth about $41,000. Federated Hermes Inc. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $56,000. SBI Securities Co. Ltd. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $74,000. Farther Finance Advisors LLC raised its stake in shares of Telephone and Data Systems by 74.5% in the 4th 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 period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Telephone and Data Systems by 139.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock valued at $128,000 after acquiring an additional 2,186 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Up 0.4%

NYSE TDS traded up $0.15 on Monday, hitting $34.51. 630,325 shares of the stock were exchanged, compared to its average volume of 1,019,169. The company has a quick ratio of 1.44, a current ratio of 1.59 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 $41.21. The company has a market cap of $3.93 billion, a PE ratio of -6.39 and a beta of 0.57. The company has a 50-day moving average price of $35.65 and a 200-day moving average price of $35.30.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm earned $0.10 EPS. The company's revenue was down 8.6% on a year-over-year basis. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TDS shares. Wall Street Zen downgraded shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Friday. 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 research note on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th.

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.