Goldman Sachs Group Inc. Cuts Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS) (2024)

Posted by Defense World Staff on Jun 26th, 2024

Goldman Sachs Group Inc. lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,137,894 shares of the Wireless communications provider’s stock after selling 60,929 shares during the period. Goldman Sachs Group Inc. owned 1.01% of Telephone and Data Systems worth $20,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Diversified Trust Co grew its stake in shares of Telephone and Data Systems by 2.3% in the 3rd quarter. Diversified Trust Co now owns 26,865 shares of the Wireless communications provider’s stock worth $492,000 after buying an additional 607 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Telephone and Data Systems by 14.0% in the 4th quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock worth $93,000 after buying an additional 622 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new stake in shares of Telephone and Data Systems in the 4th quarter worth approximately $46,000. Finally, Franklin Resources Inc. boosted its stake in Telephone and Data Systems by 4.1% during the 4th quarter. Franklin Resources Inc. now owns 74,215 shares of the Wireless communications provider’s stock valued at $1,362,000 after purchasing an additional 2,892 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock opened at $19.37 on Wednesday. Telephone and Data Systems, Inc. has a one year low of $7.00 and a one year high of $23.35. The stock’s fifty day moving average is $18.57 and its 200 day moving average is $17.59. The stock has a market cap of $2.19 billion, a P/E ratio of -3.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 1.58.

Telephone and Data Systems (NYSE:TDS – Get Free Report) last announced its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned ($0.08) EPS. Telephone and Data Systems’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.32 earnings per share for the current year.

Telephone and Data Systems Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.83%. Telephone and Data Systems’s payout ratio is presently -3.29%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TDS. JPMorgan Chase & Co. cut their target price on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. StockNews.com raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th.

Check Out Our Latest Stock Report on Telephone and Data Systems

Telephone and Data Systems Profile

(Free Report)

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.

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