Royal Bank of Canada Has $4.74 Million Holdings in Telephone and Data Systems, Inc. $TDS

Royal Bank of Canada increased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 105.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,617 shares of the Wireless communications provider’s stock after acquiring an additional 57,921 shares during the quarter. Royal Bank of Canada’s holdings in Telephone and Data Systems were worth $4,741,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Salomon & Ludwin LLC boosted its holdings in Telephone and Data Systems by 51.3% in the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 231 shares during the period. JPL Wealth Management LLC bought a new position in shares of Telephone and Data Systems during the third quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Telephone and Data Systems by 2,779.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 1,084 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 861 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. bought a new position in Telephone and Data Systems during the 1st quarter worth $90,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TDS. Zacks Research raised Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings raised Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Raymond James Financial downgraded Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Finally, Citigroup cut their price objective on shares of Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Telephone and Data Systems Stock Up 5.7%

Shares of TDS opened at $35.06 on Friday. The firm has a 50 day simple moving average of $36.07 and a two-hundred day simple moving average of $41.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. Telephone and Data Systems, Inc. has a one year low of $31.51 and a one year high of $49.12. The company has a market cap of $3.99 billion, a P/E ratio of 11.69 and a beta of 0.32.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Telephone and Data Systems’s payout ratio is 5.33%.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.