697,035 Shares in Telephone and Data Systems, Inc. (NYSE:TDS) Purchased by Norges Bank

Norges Bank acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 697,035 shares of the Wireless communications provider's stock, valued at approximately $23,776,000. Norges Bank owned 0.62% of Telephone and Data Systems as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TCW Group Inc. grew its holdings in Telephone and Data Systems by 3.2% in the third quarter. TCW Group Inc. now owns 566,832 shares of the Wireless communications provider's stock worth $13,179,000 after purchasing an additional 17,400 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Telephone and Data Systems during the 4th quarter worth about $246,000. CWA Asset Management Group LLC acquired a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $710,000. Consolidated Planning Corp increased its position in Telephone and Data Systems by 35.4% in the 4th quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider's stock valued at $1,314,000 after buying an additional 10,063 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in Telephone and Data Systems during the 4th quarter worth approximately $203,000. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 0.6 %

Shares of Telephone and Data Systems stock traded up $0.23 during trading hours on Friday, reaching $35.66. The company's stock had a trading volume of 504,979 shares, compared to its average volume of 1,085,960. The company has a market capitalization of $4.07 billion, a P/E ratio of -6.60 and a beta of 0.62. The stock's fifty day simple moving average is $36.68 and its two-hundred day simple moving average is $33.28. Telephone and Data Systems, Inc. has a one year low of $14.04 and a one year 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.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. On average, research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.45%. Telephone and Data Systems's payout ratio is -18.60%.

Analyst Ratings Changes

Separately, 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 research note 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.