Northern Trust Corp Increases Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Northern Trust Corp lifted its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,159,919 shares of the Wireless communications provider's stock after purchasing an additional 96,849 shares during the quarter. Northern Trust Corp owned about 1.03% of Telephone and Data Systems worth $39,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new position in Telephone and Data Systems in the 4th quarter valued at approximately $246,000. Norges Bank purchased a new stake in Telephone and Data Systems during the 4th quarter worth approximately $23,776,000. Consolidated Planning Corp lifted its holdings in Telephone and Data Systems by 35.4% during 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 in the last quarter. Savant Capital LLC acquired a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $203,000. Finally, Proficio Capital Partners LLC acquired a new stake in Telephone and Data Systems during the fourth quarter worth approximately $2,422,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

NYSE:TDS traded up $0.20 during trading hours on Thursday, reaching $34.21. The stock had a trading volume of 153,141 shares, compared to its average volume of 1,049,281. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market capitalization of $3.90 billion, a PE ratio of -6.33 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 company has a 50 day moving average price of $35.93 and a two-hundred day moving average price of $34.90.

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 for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.04 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. Telephone and Data Systems's payout ratio is presently -15.24%.

Analyst Ratings Changes

Several research firms have recently issued reports on TDS. 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. increased their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, February 24th.

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.