Telephone and Data Systems (NYSE:TDS) Sets New 12-Month High – Here’s What Happened

Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.85 and last traded at $37.44, with a volume of 629733 shares traded. The stock had previously closed at $37.33.

Analyst Upgrades and Downgrades

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

Telephone and Data Systems Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -6.93 and a beta of 0.80. The business’s 50 day moving average is $34.75 and its 200 day moving average is $28.71.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.04 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. Telephone and Data Systems’s dividend payout ratio is -2.96%.

Institutional Trading of Telephone and Data Systems

Several institutional investors have recently made changes to their positions in TDS. Silver Point Capital L.P. purchased a new position in Telephone and Data Systems in the third quarter valued at about $29,062,000. American Century Companies Inc. grew 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 buying an additional 203,897 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Telephone and Data Systems in the fourth quarter worth approximately $5,619,000. Loomis Sayles & Co. L P raised its position in Telephone and Data Systems by 35.3% during the third quarter. Loomis Sayles & Co. L P now owns 523,150 shares of the Wireless communications provider’s stock valued at $12,163,000 after acquiring an additional 136,419 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Telephone and Data Systems by 66.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 284,906 shares of the Wireless communications provider’s stock valued at $6,624,000 after acquiring an additional 113,862 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

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.