Telephone and Data Systems, Inc. (NYSE:TDS) Position Lowered by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,972 shares of the Wireless communications provider's stock after selling 6,785 shares during the period. State of Tennessee Department of Treasury's holdings in Telephone and Data Systems were worth $1,261,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TDS. Independence Bank of Kentucky purchased a new position in Telephone and Data Systems in the fourth quarter valued at approximately $41,000. Federated Hermes Inc. purchased a new position in shares of Telephone and Data Systems in the 4th quarter valued at $56,000. SBI Securities Co. Ltd. acquired a new position in shares of Telephone and Data Systems during the 4th quarter valued at $74,000. Versant Capital Management Inc boosted its position in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock worth $82,000 after purchasing an additional 303 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Telephone and Data Systems by 74.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock worth $92,000 after purchasing an additional 1,156 shares during the period. Hedge funds and other institutional investors own 80.00% of the company's stock.

Analyst Upgrades and Downgrades

TDS has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on 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. Raymond James restated an "outperform" rating and issued a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday.

Telephone and Data Systems Stock Up 1.8 %

TDS stock traded up $0.57 during trading on Tuesday, reaching $32.31. The stock had a trading volume of 143,564 shares, compared to its average volume of 1,095,830. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $36.10 and a 200 day moving average price of $34.71. The company has a market capitalization of $3.68 billion, a P/E ratio of -6.00 and a beta of 0.62. Telephone and Data Systems, Inc. has a 1-year low of $14.52 and a 1-year high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly 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 analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.10 EPS. The company's revenue was down 8.6% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems's payout ratio is currently -18.60%.

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.