CIBC Asset Management Inc Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

CIBC Asset Management Inc purchased a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,868 shares of the Wireless communications provider’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky purchased a new stake in Telephone and Data Systems during the fourth quarter worth $41,000. Versant Capital Management Inc grew its stake 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 valued at $82,000 after acquiring an additional 303 shares during the last quarter. Quarry LP increased its holdings in Telephone and Data Systems by 35.5% during the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock valued at $61,000 after acquiring an additional 692 shares in the last quarter. KBC Group NV raised its position in Telephone and Data Systems by 70.6% during the fourth quarter. KBC Group NV now owns 4,853 shares of the Wireless communications provider’s stock worth $166,000 after acquiring an additional 2,008 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Telephone and Data Systems by 8.3% in the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider’s stock valued at $196,000 after purchasing an additional 440 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDS has been the subject of several research reports. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Down 4.1 %

Shares of NYSE TDS opened at $38.00 on Monday. The firm has a market cap of $4.29 billion, a P/E ratio of -7.04 and a beta of 0.80. 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, Inc. has a 1 year low of $13.92 and a 1 year high of $41.21. The firm’s 50 day moving average price is $35.59 and its 200 day moving average price is $29.80.

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

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.04 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Telephone and Data Systems’s payout ratio is -18.60%.

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.