Prudential Financial Inc. Sells 41,450 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Prudential Financial Inc. cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,122 shares of the Wireless communications provider’s stock after selling 41,450 shares during the period. Prudential Financial Inc. owned 0.39% of Telephone and Data Systems worth $15,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TDS. Versant Capital Management Inc raised its position in Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 303 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Telephone and Data Systems by 8.3% in the 4th quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider’s stock valued at $196,000 after buying an additional 440 shares during the period. Quarry LP raised its position in shares of Telephone and Data Systems by 35.5% during the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after acquiring an additional 692 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Telephone and Data Systems by 74.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after acquiring an additional 1,156 shares during the period. Finally, Independence Bank of Kentucky bought a new position in Telephone and Data Systems in the fourth quarter valued at about $41,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 24th.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $38.79 on Friday. The firm’s 50 day moving average price is $36.44 and its two-hundred day moving average price is $32.05. The stock has a market cap of $4.42 billion, a PE ratio of -7.18 and a beta of 0.75. Telephone and Data Systems, Inc. has a 52-week low of $14.04 and a 52-week high of $41.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. As a group, analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Telephone and Data Systems’s dividend payout ratio is -18.60%.

About Telephone and Data Systems

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.