Bfsg LLC Cuts Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Bfsg LLC cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 34.7% during the 4th quarter, HoldingsChannel reports. The firm owned 9,444 shares of the Wireless communications provider’s stock after selling 5,026 shares during the quarter. Bfsg LLC’s holdings in Telephone and Data Systems were worth $322,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TDS. CWM LLC raised its position in Telephone and Data Systems by 26.8% in the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider’s stock valued at $116,000 after purchasing an additional 1,056 shares during the period. Creative Planning raised its position in Telephone and Data Systems by 8.1% in the third quarter. Creative Planning now owns 13,301 shares of the Wireless communications provider’s stock valued at $309,000 after purchasing an additional 997 shares during the period. Everence Capital Management Inc. raised its position in Telephone and Data Systems by 7.3% in the third quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider’s stock valued at $299,000 after purchasing an additional 870 shares during the period. Assenagon Asset Management S.A. purchased a new position in Telephone and Data Systems in the third quarter valued at about $1,208,000. Finally, Pinnacle Associates Ltd. raised its position in Telephone and Data Systems by 13.4% in the third quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider’s stock valued at $10,900,000 after purchasing an additional 55,434 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TDS shares. JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Raymond James raised Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Thursday, November 7th.

Telephone and Data Systems Stock Up 2.1 %

Shares of NYSE TDS opened at $40.32 on Wednesday. Telephone and Data Systems, Inc. has a 1 year low of $13.69 and a 1 year high of $41.21. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $35.19 and its 200-day simple moving average is $29.32.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given 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 of this dividend was Monday, December 16th. Telephone and Data Systems’s payout ratio is -2.96%.

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.