Telephone and Data Systems, Inc. (NYSE:TDS) Shares Bought by Quarry LP

Quarry LP raised its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 35.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,643 shares of the Wireless communications provider’s stock after purchasing an additional 692 shares during the period. Quarry LP’s holdings in Telephone and Data Systems were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TDS. Silver Point Capital L.P. purchased a new position in Telephone and Data Systems in the third quarter valued at $29,062,000. Dimensional Fund Advisors LP boosted its position in shares of Telephone and Data Systems by 9.2% during the 2nd 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 in the last quarter. Millennium Management LLC increased its holdings in shares of Telephone and Data Systems by 34.0% in the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock valued at $40,430,000 after acquiring an additional 495,189 shares during the last quarter. 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. Finally, American Century Companies Inc. lifted its stake in Telephone and Data Systems by 8.4% during the second 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. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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 on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th.

Telephone and Data Systems Trading Down 3.6 %

NYSE:TDS opened at $33.38 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $34.78. The stock’s 50 day moving average price is $29.38 and its 200 day moving average price is $24.13. The company has a market capitalization of $3.77 billion, a PE ratio of -6.18 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations 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%. Telephone and Data Systems’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) EPS. On average, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -2.96%.

Telephone and Data Systems 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.