Congress Asset Management Co. Has $8.41 Million Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Congress Asset Management Co. boosted its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,199 shares of the Wireless communications provider’s stock after purchasing an additional 2,398 shares during the quarter. Congress Asset Management Co. owned about 0.19% of Telephone and Data Systems worth $8,414,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Telephone and Data Systems in the fourth quarter worth $23,776,000. Consolidated Planning Corp grew its holdings in Telephone and Data Systems by 35.4% in the fourth quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider’s stock worth $1,314,000 after purchasing an additional 10,063 shares during the period. Savant Capital LLC acquired a new stake in Telephone and Data Systems in the fourth quarter worth $203,000. Proficio Capital Partners LLC acquired a new stake in Telephone and Data Systems in the fourth quarter worth $2,422,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Telephone and Data Systems in the fourth quarter worth $205,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 0.7%

Shares of NYSE TDS opened at $35.00 on Friday. The stock has a market capitalization of $3.99 billion, a P/E ratio of -6.48 and a beta of 0.52. The company has a 50-day moving average price of $35.23 and a 200-day moving average price of $35.38. Telephone and Data Systems, Inc. has a 1 year low of $17.90 and a 1 year high of $41.21. 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 released its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Telephone and Data Systems’s payout ratio is currently -15.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TDS shares. Wall Street Zen cut shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Friday, May 30th. JPMorgan Chase & Co. reduced their price objective on shares of Telephone and Data Systems from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, May 28th. Finally, Raymond James reiterated an “outperform” rating and set a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

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.