Toronto Dominion Bank Invests $9.90 Million in Telephone and Data Systems, Inc. (NYSE:TDS)

Toronto Dominion Bank bought a new stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 290,286 shares of the Wireless communications provider's stock, valued at approximately $9,902,000. Toronto Dominion Bank owned 0.26% of Telephone and Data Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TDS. Independence Bank of Kentucky purchased a new position in Telephone and Data Systems in the 4th quarter valued at about $41,000. Federated Hermes Inc. acquired a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $56,000. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems in the fourth quarter valued at approximately $74,000. Farther Finance Advisors LLC lifted its position in shares of Telephone and Data Systems by 74.5% in the fourth 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Telephone and Data Systems by 139.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 2,186 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock traded down $0.29 on Monday, hitting $33.54. 836,982 shares of the company were exchanged, compared to its average volume of 1,050,230. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $35.89 and a 200 day moving average price of $35.20. The stock has a market capitalization of $3.82 billion, a price-to-earnings 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.

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). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $0.10 EPS. The business's quarterly revenue was down 8.6% on a year-over-year basis. As a group, sell-side analysts predict 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 16th. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Wall Street Analysts Forecast Growth

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

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.