PDT Partners LLC Reduces Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

PDT Partners LLC reduced its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 73.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,667 shares of the Wireless communications provider’s stock after selling 61,370 shares during the quarter. PDT Partners LLC’s holdings in Telephone and Data Systems were worth $504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TDS. Dimensional Fund Advisors LP lifted its stake in Telephone and Data Systems by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock worth $124,761,000 after purchasing an additional 507,512 shares during the last quarter. Millennium Management LLC raised its holdings in Telephone and Data Systems by 34.0% during the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock worth $40,430,000 after purchasing an additional 495,189 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Telephone and Data Systems during the 2nd quarter worth approximately $7,680,000. American Century Companies Inc. boosted its holdings in shares of Telephone and Data Systems by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock valued at $55,058,000 after buying an additional 206,819 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Telephone and Data Systems by 935.4% in the 2nd quarter. Bank of Montreal Can now owns 197,754 shares of the Wireless communications provider’s stock valued at $4,135,000 after buying an additional 178,654 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TDS shares. Raymond James raised shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $33.81 on Tuesday. The firm’s fifty day simple moving average is $28.31 and its 200-day simple moving average is $23.62. Telephone and Data Systems, Inc. has a 12 month low of $13.69 and a 12 month high of $34.76. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -6.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.19. 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 $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business earned ($0.16) EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems’s payout ratio is -2.96%.

About Telephone and Data Systems

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.