Point72 Asset Management L.P. Sells 96,843 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Point72 Asset Management L.P. lessened its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 373,175 shares of the Wireless communications provider’s stock after selling 96,843 shares during the quarter. Point72 Asset Management L.P.’s holdings in Telephone and Data Systems were worth $12,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Third Point LLC lifted its position in shares of Telephone and Data Systems by 108.7% during the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock worth $204,660,000 after buying an additional 3,125,000 shares during the last quarter. American Century Companies Inc. raised its stake in Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock worth $110,161,000 after acquiring an additional 203,897 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Telephone and Data Systems by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider’s stock worth $64,801,000 after acquiring an additional 20,721 shares during the last quarter. Carronade Capital Management LP acquired a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $62,845,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Telephone and Data Systems by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,465,935 shares of the Wireless communications provider’s stock valued at $50,003,000 after purchasing an additional 6,914 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TDS shares. JPMorgan Chase & Co. upped their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Raymond James reiterated an “outperform” rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

Telephone and Data Systems Price Performance

Shares of TDS opened at $34.95 on Monday. 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 has a market cap of $3.98 billion, a PE ratio of -6.47 and a beta of 0.57. Telephone and Data Systems, Inc. has a 12-month low of $16.64 and a 12-month high of $41.21. The business has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $35.05.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -15.24%.

Telephone and Data Systems 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.