Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS – Get Rating) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,140 shares of the Wireless communications provider’s stock after selling 23,253 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.16% of Telephone and Data Systems worth $1,921,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the business. UBS Group AG increased its holdings in Telephone and Data Systems by 55.6% in the fourth quarter. UBS Group AG now owns 98,438 shares of the Wireless communications provider’s stock valued at $1,033,000 after buying an additional 35,156 shares in the last quarter. Swiss National Bank increased its stake in Telephone and Data Systems by 1.2% in the 4th quarter. Swiss National Bank now owns 244,400 shares of the Wireless communications provider’s stock valued at $2,564,000 after purchasing an additional 2,800 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Telephone and Data Systems by 650.2% during the fourth quarter. Russell Investments Group Ltd. now owns 125,894 shares of the Wireless communications provider’s stock worth $1,321,000 after purchasing an additional 109,113 shares during the last quarter. Arizona State Retirement System boosted its position in Telephone and Data Systems by 3.1% during the fourth quarter. Arizona State Retirement System now owns 28,557 shares of the Wireless communications provider’s stock worth $300,000 after purchasing an additional 871 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in Telephone and Data Systems in the fourth quarter valued at $158,000. 83.68% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on TDS shares. StockNews.com started coverage on Telephone and Data Systems in a research note on Thursday, May 18th. They set a “sell” rating for the company. Morgan Stanley cut their target price on shares of Telephone and Data Systems from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.00.
Telephone and Data Systems Stock Performance
Telephone and Data Systems (NYSE:TDS – Get Rating) last released its earnings results on Friday, May 5th. The Wireless communications provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. Telephone and Data Systems had a net margin of 0.17% and a return on equity of 0.16%. During the same quarter in the previous year, the company posted $0.37 earnings per share. As a group, analysts forecast that Telephone and Data Systems, Inc. will post -0.46 earnings per share for the current fiscal year.
Telephone and Data Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 10.42%. The ex-dividend date is Wednesday, June 14th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -139.62%.
Telephone and Data Systems Profile
Telephone & Data Systems, Inc is a diversified telecommunications company, which engages in the provision of communications services, retail wireless connections, broadband, video, and voice connections. It operates through the following segments: UScellular, TDS Telecom, and Corporate, Eliminations, and Other.
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- Get a free copy of the StockNews.com research report on Telephone and Data Systems (TDS)
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