Franklin Resources Inc. Increases Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Franklin Resources Inc. lifted its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,508 shares of the Wireless communications provider’s stock after purchasing an additional 1,938 shares during the period. Franklin Resources Inc. owned about 0.07% of Telephone and Data Systems worth $1,855,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors LLC purchased a new stake in shares of Telephone and Data Systems in the third quarter valued at approximately $294,000. TCW Group Inc. raised its position in Telephone and Data Systems by 3.2% during the 3rd quarter. TCW Group Inc. now owns 566,832 shares of the Wireless communications provider’s stock valued at $13,179,000 after purchasing an additional 17,400 shares in the last quarter. Geode Capital Management LLC raised its position in Telephone and Data Systems by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider’s stock valued at $53,278,000 after purchasing an additional 43,470 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Telephone and Data Systems in the 3rd quarter worth $363,000. Finally, State Street Corp grew its position in shares of Telephone and Data Systems by 1.6% during the 3rd quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider’s stock worth $93,908,000 after buying an additional 65,432 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports 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 target price on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 4th.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $34.78 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $35.39. The company’s 50 day moving average is $31.91 and its 200 day moving average is $25.26. The company has a market cap of $3.93 billion, a PE ratio of -6.44 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. On average, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems’s payout ratio 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.