KLP Kapitalforvaltning AS Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

KLP Kapitalforvaltning AS bought a new position in Telephone and Data Systems, Inc. (NYSE:TDS) in the fourth quarter, Holdings Channel reports. The institutional investor bought 20,600 shares of the Wireless communications provider’s stock, valued at approximately $703,000.

Several other institutional investors have also modified their holdings of the stock. American Century Companies Inc. increased its position in Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock worth $110,161,000 after purchasing an additional 203,897 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $5,619,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Telephone and Data Systems by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider’s stock worth $34,035,000 after buying an additional 103,114 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Telephone and Data Systems by 26.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 470,018 shares of the Wireless communications provider’s stock valued at $10,928,000 after buying an additional 99,520 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in Telephone and Data Systems by 494.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 87,222 shares of the Wireless communications provider’s stock valued at $2,975,000 after acquiring an additional 72,554 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Telephone and Data Systems Trading Up 1.3 %

Shares of TDS stock opened at $39.25 on Wednesday. The company has a 50-day moving average of $36.60 and a two-hundred day moving average of $32.52. The firm has a market cap of $4.47 billion, a PE ratio of -7.27 and a beta of 0.75. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. On average, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. Telephone and Data Systems’s dividend payout ratio is presently -18.60%.

About Telephone and Data Systems

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.