Goldman Sachs Group Inc. lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,137,894 shares of the Wireless communications provider's stock after selling 60,929 shares during the quarter. Goldman Sachs Group Inc. owned 1.01% of Telephone and Data Systems worth $20,880,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Telephone and Data Systems by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider's stock valued at $87,810,000 after acquiring an additional 774,892 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at $905,000. FMR LLC increased its stake in shares of Telephone and Data Systems by 6.8% in the 3rd quarter. FMR LLC now owns 1,116,774 shares of the Wireless communications provider's stock valued at $20,448,000 after acquiring an additional 70,832 shares in the last quarter. Norges Bank bought a new stake in Telephone and Data Systems during the 4th quarter valued at $8,205,000. Finally, Teacher Retirement System of Texas increased its stake in Telephone and Data Systems by 24.5% during the 4th quarter. Teacher Retirement System of Texas now owns 72,132 shares of the Wireless communications provider's stock valued at $1,324,000 after purchasing an additional 14,203 shares in the last quarter. Institutional investors own 80.00% of the company's stock.
Telephone and Data Systems Stock Up 1.2 %
TDS traded up $0.23 during mid-day trading on Wednesday, reaching $19.60. 916,775 shares of the stock were exchanged, compared to its average volume of 1,174,069. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 1.58. The stock has a market capitalization of $2.21 billion, a PE ratio of -4.02 and a beta of 0.84. The company has a 50 day moving average price of $18.57 and a two-hundred day moving average price of $17.59. Telephone and Data Systems, Inc. has a 1 year low of $7.00 and a 1 year high of $23.35.
Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.15. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.32 EPS for the current year.
Telephone and Data Systems Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, June 14th. Telephone and Data Systems's dividend payout ratio is -3.29%.
Analyst Ratings Changes
A number of analysts have commented on TDS shares. JPMorgan Chase & Co. decreased their price target on shares of Telephone and Data Systems from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, May 29th. StockNews.com upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Monday, May 6th.
Check Out Our Latest Stock Analysis on Telephone and Data Systems
About Telephone and Data Systems
(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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