Wells Fargo & Company MN Sells 52,555 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Wells Fargo & Company MN cut its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 30.5% in the fourth quarter, HoldingsChannel reports. The firm owned 119,606 shares of the Wireless communications provider’s stock after selling 52,555 shares during the period. Wells Fargo & Company MN’s holdings in Telephone and Data Systems were worth $4,080,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TDS. Norges Bank bought a new stake in shares of Telephone and Data Systems during the 4th quarter worth about $23,776,000. American Century Companies Inc. raised its stake in shares of Telephone and Data Systems by 6.7% in the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock valued at $110,161,000 after acquiring an additional 203,897 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Telephone and Data Systems by 42.3% in the 4th quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider’s stock worth $22,260,000 after purchasing an additional 194,136 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Telephone and Data Systems during the fourth quarter worth approximately $5,619,000. Finally, New Age Alpha Advisors LLC acquired a new position in Telephone and Data Systems during the fourth quarter valued at approximately $3,718,000. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Price Performance

NYSE TDS opened at $35.09 on Tuesday. The stock has a market capitalization of $4.00 billion, a PE ratio of -6.50 and a beta of 0.62. The stock has a 50-day simple moving average of $36.57 and a 200 day simple moving average of $33.89. 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 twelve month low of $14.04 and a twelve month high of $41.21.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data 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. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -18.60%.

Analyst Upgrades and Downgrades

Separately, 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 report on Monday, February 24th.

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.