Telephone and Data Systems, Inc. (NYSE:TDS) Position Reduced by Congress Asset Management Co. MA

Congress Asset Management Co. MA trimmed its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 28.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,433 shares of the Wireless communications provider’s stock after selling 53,214 shares during the quarter. Congress Asset Management Co. MA owned approximately 0.12% of Telephone and Data Systems worth $2,122,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TDS. Principal Securities Inc. acquired a new position in Telephone and Data Systems in the 4th quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new position in Telephone and Data Systems during the fourth quarter valued at $46,000. Quarry LP purchased a new stake in Telephone and Data Systems in the 4th quarter worth about $60,000. GAMMA Investing LLC acquired a new stake in Telephone and Data Systems during the 4th quarter worth about $93,000. Finally, Quadrant Capital Group LLC grew its stake in Telephone and Data Systems by 14.0% during the 4th quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock valued at $93,000 after acquiring an additional 622 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Trading Up 1.4 %

NYSE:TDS opened at $18.93 on Friday. The stock’s 50 day moving average price is $18.41 and its 200 day moving average price is $17.59. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 1.58. Telephone and Data Systems, Inc. has a 52 week low of $6.99 and a 52 week high of $23.35.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.15. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted ($0.08) EPS. Telephone and Data Systems’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Telephone and Data Systems, Inc. will post -0.32 earnings per share for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.85%. Telephone and Data Systems’s dividend payout ratio is currently -3.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TDS shares. StockNews.com upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th.

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.