Telephone and Data Systems, Inc. (NYSE:TDS) Stock Position Cut by Private Management Group Inc.

Private Management Group Inc. cut its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,256,116 shares of the Wireless communications provider’s stock after selling 16,358 shares during the period. Telephone and Data Systems accounts for approximately 1.8% of Private Management Group Inc.’s investment portfolio, making the stock its 6th biggest holding. Private Management Group Inc.’s holdings in Telephone and Data Systems were worth $46,769,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TDS. Principal Securities Inc. purchased a new stake in shares of Telephone and Data Systems during the 4th quarter valued at $25,000. Blue Trust Inc. increased its holdings in shares of Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after acquiring an additional 1,674 shares in the last quarter. Quarry LP acquired a new position in shares of Telephone and Data Systems during the fourth quarter valued at about $60,000. CWM LLC raised its holdings in shares of Telephone and Data Systems by 57.0% in the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after buying an additional 1,430 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Telephone and Data Systems during the second quarter worth $88,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th.

Telephone and Data Systems Trading Down 2.8 %

Shares of NYSE:TDS opened at $23.03 on Monday. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $24.92. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $21.33 and its 200 day moving average is $18.75.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts expect that Telephone and Data Systems, Inc. will post -0.43 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, September 16th. Telephone and Data Systems’s dividend payout ratio is currently -3.29%.

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.