Telephone and Data Systems, Inc. (NYSE:TDS) Shares Purchased by Third Point LLC

Third Point LLC boosted its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 108.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,000,000 shares of the Wireless communications provider's stock after acquiring an additional 3,125,000 shares during the quarter. Telephone and Data Systems comprises 2.8% of Third Point LLC's investment portfolio, making the stock its 16th biggest holding. Third Point LLC owned 5.31% of Telephone and Data Systems worth $204,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TDS. Voleon Capital Management LP purchased a new stake in Telephone and Data Systems in the 4th quarter valued at approximately $559,000. Northern Trust Corp lifted its holdings in Telephone and Data Systems by 9.1% in the fourth quarter. Northern Trust Corp now owns 1,159,919 shares of the Wireless communications provider's stock valued at $39,565,000 after acquiring an additional 96,849 shares during the period. Boothbay Fund Management LLC boosted its position in shares of Telephone and Data Systems by 13.4% during the 4th quarter. Boothbay Fund Management LLC now owns 151,133 shares of the Wireless communications provider's stock worth $5,155,000 after purchasing an additional 17,877 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Telephone and Data Systems in the 4th quarter valued at about $6,571,000. Finally, Voya Investment Management LLC boosted its holdings in Telephone and Data Systems by 1.6% during the fourth quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider's stock worth $1,793,000 after buying an additional 808 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, February 24th.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock traded down $3.18 during midday trading on Friday, reaching $34.46. 2,867,936 shares of the company were exchanged, compared to its average volume of 1,093,511. The firm's 50-day simple moving average is $36.18 and its 200-day simple moving average is $34.62. Telephone and Data Systems, Inc. has a 1 year low of $14.52 and a 1 year high of $41.21. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -6.38 and a beta of 0.62. 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 posted its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business's quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 annualized dividend and a yield of 0.46%. Telephone and Data Systems's payout ratio is currently -18.60%.

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.