Toronto Dominion Bank Makes New $9.90 Million Investment 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) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 290,286 shares of the Wireless communications provider's stock, valued at approximately $9,902,000. Toronto Dominion Bank owned approximately 0.26% of Telephone and Data Systems at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TDS. First Citizens Bank & Trust Co. bought a new position in shares of Telephone and Data Systems in the 4th quarter valued at about $203,000. Blue Trust Inc. grew its position in shares of Telephone and Data Systems by 235.7% in the 4th quarter. Blue Trust Inc. now owns 6,871 shares of the Wireless communications provider's stock valued at $234,000 after acquiring an additional 4,824 shares during the period. KBC Group NV grew its position in shares of Telephone and Data Systems by 70.6% in the 4th quarter. KBC Group NV now owns 4,853 shares of the Wireless communications provider's stock valued at $166,000 after acquiring an additional 2,008 shares during the period. Invesco LLC bought a new position in shares of Telephone and Data Systems in the 4th quarter valued at about $230,000. Finally, Independence Bank of Kentucky bought a new position in shares of Telephone and Data Systems in the 4th quarter valued at about $41,000. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of NYSE TDS traded up $0.15 during mid-day trading on Monday, reaching $34.51. 630,325 shares of the company were exchanged, compared to its average volume of 1,019,178. The company's 50-day simple moving average is $35.58 and its 200-day simple moving average is $35.32. 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 stock has a market capitalization of $3.93 billion, a P/E ratio of -6.39 and a beta of 0.57. Telephone and Data Systems, Inc. has a twelve month low of $17.90 and a twelve month high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted 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 company 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%. The business's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, research analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 16th. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James reissued an "outperform" rating and issued a $47.00 price objective (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. Finally, Wall Street Zen cut shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Friday.

About Telephone and Data Systems

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.