BNP Paribas Financial Markets Sells 9,509 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

BNP Paribas Financial Markets cut its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 35.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,464 shares of the Wireless communications provider's stock after selling 9,509 shares during the quarter. BNP Paribas Financial Markets' holdings in Telephone and Data Systems were worth $596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new position in Telephone and Data Systems during the 4th quarter worth approximately $41,000. Federated Hermes Inc. acquired a new stake in shares of Telephone and Data Systems in the fourth quarter worth $56,000. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems during the fourth quarter valued at $74,000. Farther Finance Advisors LLC raised its position in Telephone and Data Systems by 74.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock valued at $92,000 after buying an additional 1,156 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Telephone and Data Systems by 139.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock valued at $128,000 after buying an additional 2,186 shares during the period. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 4.3%

Shares of NYSE TDS traded up $1.45 during mid-day trading on Tuesday, reaching $35.02. The company had a trading volume of 1,281,406 shares, compared to its average volume of 1,051,154. Telephone and Data Systems, Inc. has a twelve month low of $16.64 and a twelve month high of $41.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market capitalization of $3.99 billion, a PE ratio of -6.49 and a beta of 0.57. The stock's 50 day moving average is $35.86 and its 200-day moving average is $35.21.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Raymond James restated an "outperform" rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

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.