Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 73.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 671,502 shares of the Wireless communications provider’s stock after selling 1,852,154 shares during the quarter. Millennium Management LLC owned approximately 0.59% of Telephone and Data Systems worth $22,905,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new position in shares of Telephone and Data Systems in the 4th quarter valued at $41,000. Federated Hermes Inc. acquired a new position in shares of Telephone and Data Systems in the 4th quarter valued at $56,000. SBI Securities Co. Ltd. acquired a new position in shares of Telephone and Data Systems in the 4th quarter valued at $74,000. Farther Finance Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Telephone and Data Systems by 139.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $34.51 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 has a market capitalization of $3.93 billion, a price-to-earnings ratio of -6.39 and a beta of 0.57. The firm’s fifty day simple moving average is $35.99 and its 200 day simple moving average is $35.10. Telephone and Data Systems, Inc. has a twelve month low of $16.64 and a twelve month high of $41.21.

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

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. Telephone and Data Systems’s dividend payout ratio is currently -15.24%.

Analysts Set New Price Targets

TDS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price 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. Raymond James restated an “outperform” rating and set a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

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.