Point72 Asset Management L.P. Purchases New Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Point72 Asset Management L.P. purchased a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 370,498 shares of the Wireless communications provider’s stock, valued at approximately $7,680,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Telephone and Data Systems during the 4th quarter valued at approximately $8,205,000. Franklin Resources Inc. raised its holdings in shares of Telephone and Data Systems by 4.1% during the fourth quarter. Franklin Resources Inc. now owns 74,215 shares of the Wireless communications provider’s stock valued at $1,362,000 after acquiring an additional 2,892 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Telephone and Data Systems in the fourth quarter worth $2,209,000. Quarry LP purchased a new stake in Telephone and Data Systems in the fourth quarter worth $60,000. Finally, Vanguard Group Inc. boosted its holdings in Telephone and Data Systems by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 12,248,615 shares of the Wireless communications provider’s stock valued at $224,762,000 after acquiring an additional 565,371 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 0.8 %

Shares of NYSE TDS opened at $23.43 on Wednesday. The firm has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $19.70. Telephone and Data Systems, Inc. has a 12 month low of $13.69 and a 12 month high of $24.92. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $2.65 billion, a PE ratio of -4.81 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. Telephone and Data Systems’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts expect that Telephone and Data Systems, Inc. will post -0.43 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, September 16th. Telephone and Data Systems’s payout ratio is presently -3.29%.

Telephone and Data Systems Company 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.