PNC Financial Services Group Inc. Has $638,000 Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

PNC Financial Services Group Inc. decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 2.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,695 shares of the Wireless communications provider’s stock after selling 540 shares during the period. PNC Financial Services Group Inc.’s holdings in Telephone and Data Systems were worth $638,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TDS. Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems during the 4th quarter worth approximately $41,000. Quarry LP grew its holdings in 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 valued at $61,000 after purchasing an additional 692 shares during the period. SBI Securities Co. Ltd. acquired a new position in Telephone and Data Systems during the fourth quarter valued at approximately $74,000. Versant Capital Management Inc grew its holdings in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 303 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Telephone and Data Systems by 139.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 2,186 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $35.49 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average price is $35.97 and its two-hundred day moving average price is $31.50. Telephone and Data Systems, Inc. has a 1 year low of $14.04 and a 1 year high of $41.21. The firm has a market capitalization of $4.05 billion, a P/E ratio of -6.57 and a beta of 0.75.

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

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.04 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.45%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -18.60%.

Wall Street Analysts Forecast Growth

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

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.