Vanguard Group Inc. Purchases 565,371 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Vanguard Group Inc. grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,248,615 shares of the Wireless communications provider’s stock after acquiring an additional 565,371 shares during the quarter. Vanguard Group Inc. owned 10.84% of Telephone and Data Systems worth $224,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in shares of Telephone and Data Systems by 6.8% in the third quarter. FMR LLC now owns 1,116,774 shares of the Wireless communications provider’s stock valued at $20,448,000 after purchasing an additional 70,832 shares in the last quarter. Northern Trust Corp boosted its position in shares of Telephone and Data Systems by 1.2% during the 3rd quarter. Northern Trust Corp now owns 1,102,532 shares of the Wireless communications provider’s stock valued at $20,187,000 after acquiring an additional 13,095 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Telephone and Data Systems in the third quarter valued at about $1,219,000. Qube Research & Technologies Ltd acquired a new position in Telephone and Data Systems in the third quarter worth about $6,137,000. Finally, Seven Eight Capital LP acquired a new stake in Telephone and Data Systems during the third quarter valued at approximately $1,964,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th.

Telephone and Data Systems Stock Down 0.1 %

Shares of TDS opened at $20.71 on Tuesday. The business’s 50 day simple moving average is $18.97 and its 200-day simple moving average is $17.64. Telephone and Data Systems, Inc. has a one year low of $7.00 and a one year high of $23.35. The company has a market capitalization of $2.34 billion, a P/E ratio of -4.25 and a beta of 0.84. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.40.

Telephone and Data Systems (NYSE:TDS) last announced its 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 positive return on equity of 0.62% and a negative net margin of 9.36%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Telephone and Data Systems, Inc. will post -0.32 EPS for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, June 14th. Telephone and Data Systems’s dividend payout ratio is presently -3.29%.

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.