Corebridge Financial Inc. Trims Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Corebridge Financial Inc. trimmed its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,479 shares of the Wireless communications provider’s stock after selling 4,096 shares during the quarter. Corebridge Financial Inc.’s holdings in Telephone and Data Systems were worth $1,790,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC purchased a new stake in Telephone and Data Systems in the fourth quarter worth $2,371,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Telephone and Data Systems in the 4th quarter worth about $703,000. American Century Companies Inc. increased its stake in shares of Telephone and Data Systems by 6.7% in the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock worth $110,161,000 after acquiring an additional 203,897 shares in the last quarter. Quantbot Technologies LP purchased a new position in Telephone and Data Systems during the 4th quarter valued at about $325,000. Finally, Summit Global Investments bought a new stake in Telephone and Data Systems during the fourth quarter worth about $463,000. Institutional investors own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Telephone and Data Systems Trading Up 0.8 %

Telephone and Data Systems stock opened at $39.53 on Thursday. Telephone and Data Systems, Inc. has a 12 month low of $14.04 and a 12 month high of $41.21. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -7.32 and a beta of 0.75. The business’s fifty day simple moving average is $36.66 and its two-hundred day simple moving average is $32.57. 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 (NYSE:TDS) last announced its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations 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%. As a group, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s payout ratio is -18.60%.

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.