Voloridge Investment Management LLC Has $23.25 Million Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Voloridge Investment Management LLC increased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 79.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 681,641 shares of the Wireless communications provider's stock after purchasing an additional 300,846 shares during the quarter. Voloridge Investment Management LLC owned 0.60% of Telephone and Data Systems worth $23,251,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TDS. Crossmark Global Holdings Inc. bought a new stake in shares of Telephone and Data Systems during the fourth quarter worth $246,000. Norges Bank bought a new stake in Telephone and Data Systems in the 4th quarter valued at approximately $23,776,000. Consolidated Planning Corp raised its holdings in shares of Telephone and Data Systems by 35.4% in the fourth quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider's stock valued at $1,314,000 after purchasing an additional 10,063 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $203,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $2,422,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 5.3%

TDS stock traded up $1.78 during mid-day trading on Tuesday, reaching $35.35. The company had a trading volume of 336,095 shares, compared to its average volume of 1,047,474. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -6.55 and a beta of 0.57. Telephone and Data Systems, Inc. has a 52 week low of $16.64 and a 52 week high of $41.21. The stock has a 50 day simple moving average of $35.86 and a two-hundred day simple moving average of $35.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate 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%. Telephone and Data Systems's quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 16th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Analyst Upgrades and Downgrades

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

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.