Private Management Group Inc. Has $44.36 Million Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Private Management Group Inc. cut its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300,545 shares of the Wireless communications provider’s stock after selling 474,874 shares during the quarter. Telephone and Data Systems accounts for approximately 1.6% of Private Management Group Inc.’s holdings, making the stock its 7th largest position. Private Management Group Inc.’s holdings in Telephone and Data Systems were worth $44,362,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at $41,000. Quarry LP raised its position in Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after buying an additional 692 shares during the last quarter. Versant Capital Management Inc lifted its stake 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 valued at $82,000 after acquiring an additional 303 shares during the period. CWM LLC boosted its holdings in shares of Telephone and Data Systems by 26.8% during the 3rd quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider’s stock valued at $116,000 after acquiring an additional 1,056 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Telephone and Data Systems by 10.2% in the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider’s stock worth $123,000 after acquiring an additional 490 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Trading Up 2.9 %

Shares of NYSE:TDS opened at $36.55 on Thursday. 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’s 50 day moving average price is $34.52 and its 200-day moving average price is $28.25. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $36.66.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, December 16th. Telephone and Data Systems’s dividend payout ratio is presently -2.96%.

Analyst Ratings Changes

Several brokerages recently issued reports on TDS. JPMorgan Chase & Co. raised their target price on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Raymond James upgraded 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.

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.