Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by PDT Partners LLC

PDT Partners LLC reduced its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 73.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,667 shares of the Wireless communications provider’s stock after selling 61,370 shares during the period. PDT Partners LLC’s holdings in Telephone and Data Systems were worth $504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TDS. Dimensional Fund Advisors LP grew its position in Telephone and Data Systems by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock worth $124,761,000 after acquiring an additional 507,512 shares during the period. Millennium Management LLC grew its holdings in shares of Telephone and Data Systems by 34.0% during the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock worth $40,430,000 after purchasing an additional 495,189 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Telephone and Data Systems during the 2nd quarter worth about $7,680,000. American Century Companies Inc. increased its position in shares of Telephone and Data Systems by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock worth $55,058,000 after purchasing an additional 206,819 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Telephone and Data Systems by 935.4% in the 2nd quarter. Bank of Montreal Can now owns 197,754 shares of the Wireless communications provider’s stock valued at $4,135,000 after buying an additional 178,654 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TDS shares. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $33.81 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -6.26 and a beta of 0.77. The business has a 50-day moving average of $28.31 and a 200 day moving average of $23.62. Telephone and Data Systems, Inc. has a 12 month low of $13.69 and a 12 month high of $34.76.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.19. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s payout ratio is currently -2.96%.

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.