Governors Lane LP Has $9.68 Million Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Governors Lane LP trimmed its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,831 shares of the Wireless communications provider's stock after selling 113,669 shares during the quarter. Telephone and Data Systems comprises 0.8% of Governors Lane LP's holdings, making the stock its 28th largest position. Governors Lane LP owned approximately 0.25% of Telephone and Data Systems worth $9,681,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in shares of Telephone and Data Systems in the 4th quarter valued at $41,000. Federated Hermes Inc. acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $56,000. SBI Securities Co. Ltd. acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $74,000. Farther Finance Advisors LLC lifted its position in 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 purchasing an additional 1,156 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in 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 valued at $128,000 after purchasing an additional 2,186 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDS has been the subject of a number of recent research reports. Raymond James reissued an "outperform" rating and set 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. boosted their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th.

Telephone and Data Systems Trading Up 0.4%

Shares of TDS traded up $0.14 during midday trading on Thursday, hitting $34.15. The stock had a trading volume of 687,216 shares, compared to its average volume of 1,052,365. Telephone and Data Systems, Inc. has a fifty-two week low of $16.64 and a fifty-two week high of $41.21. The business has a 50-day simple moving average of $35.93 and a two-hundred day simple moving average of $34.90. The firm has a market cap of $3.89 billion, a P/E ratio of -6.32 and a beta of 0.57. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

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) 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's revenue was down 8.6% on a year-over-year basis. As a group, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems's dividend payout ratio is -15.24%.

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.