Third Point LLC Acquires 3,125,000 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Third Point LLC boosted its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 108.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000,000 shares of the Wireless communications provider's stock after purchasing an additional 3,125,000 shares during the period. Telephone and Data Systems accounts for approximately 2.8% of Third Point LLC's holdings, making the stock its 16th largest holding. Third Point LLC owned approximately 5.31% of Telephone and Data Systems worth $204,660,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in shares of Telephone and Data Systems by 14.5% during the fourth 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Telephone and Data Systems by 8.3% in the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider's stock valued at $196,000 after acquiring an additional 440 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Telephone and Data Systems by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock worth $352,000 after purchasing an additional 482 shares during the period. Voya Investment Management LLC raised its holdings in Telephone and Data Systems by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider's stock worth $1,793,000 after purchasing an additional 808 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted 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 valued at $92,000 after purchasing an additional 1,156 shares during the period. Institutional investors own 80.00% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TDS. JPMorgan Chase & Co. increased their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Raymond James restated an "outperform" rating and issued a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a research report on Monday.

Telephone and Data Systems Trading Up 3.2 %

Shares of NYSE:TDS traded up $1.03 during mid-day trading on Tuesday, reaching $32.77. The stock had a trading volume of 396,292 shares, compared to its average volume of 1,096,775. The firm has a 50 day simple moving average of $36.10 and a two-hundred day simple moving average of $34.71. Telephone and Data Systems, Inc. has a twelve month low of $14.52 and a twelve month high of $41.21. The firm has a market cap of $3.74 billion, a PE ratio of -6.07 and a beta of 0.62. 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) earnings per share 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $0.10 earnings per share. The company's revenue for the quarter was down 8.6% on a year-over-year basis. On average, research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.49%. Telephone and Data Systems's dividend payout ratio is presently -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.