Telephone and Data Systems (NYSE:TDS) Reaches New 52-Week High – Here’s Why

Telephone and Data Systems, Inc. (NYSE:TDS) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $39.54 and last traded at $39.85, with a volume of 700810 shares traded. The stock had previously closed at $38.37.

Wall Street Analysts Forecast Growth

TDS has been the subject of several recent research reports. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective 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

The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -7.47 and a beta of 0.80. The stock’s fifty day moving average is $35.19 and its 200-day moving average is $29.32.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 16th. This represents a $0.16 annualized dividend and a yield of 0.40%. Telephone and Data Systems’s dividend payout ratio is presently -2.96%.

Institutional Investors Weigh In On Telephone and Data Systems

Several large investors have recently modified their holdings of TDS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Telephone and Data Systems by 189.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider’s stock valued at $24,925,000 after purchasing an additional 477,945 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Telephone and Data Systems by 79.0% in the fourth quarter. Voloridge Investment Management LLC now owns 681,641 shares of the Wireless communications provider’s stock valued at $23,251,000 after buying an additional 300,846 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Telephone and Data Systems by 35.4% in the fourth quarter. Vident Advisory LLC now owns 28,728 shares of the Wireless communications provider’s stock valued at $980,000 after buying an additional 7,504 shares during the period. Squarepoint Ops LLC increased its position in shares of Telephone and Data Systems by 400.4% during the fourth quarter. Squarepoint Ops LLC now owns 144,511 shares of the Wireless communications provider’s stock worth $4,929,000 after acquiring an additional 192,611 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Telephone and Data Systems by 1.5% during the fourth quarter. Two Sigma Advisers LP now owns 93,300 shares of the Wireless communications provider’s stock worth $3,182,000 after acquiring an additional 1,400 shares during the period. 80.00% of the stock is currently owned by institutional investors.

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.