Telephone and Data Systems, Inc. $TDS Shares Sold by DigitalBridge Group Inc.

DigitalBridge Group Inc. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 35.5% in the third quarter, HoldingsChannel reports. The fund owned 226,000 shares of the Wireless communications provider’s stock after selling 124,300 shares during the quarter. DigitalBridge Group Inc.’s holdings in Telephone and Data Systems were worth $8,868,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TDS. Bessemer Group Inc. grew its stake in Telephone and Data Systems by 65.6% during the third quarter. Bessemer Group Inc. now owns 699 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 277 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Telephone and Data Systems by 121.3% in the third quarter. Jones Financial Companies Lllp now owns 830 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 455 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Telephone and Data Systems during the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in Telephone and Data Systems by 191.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 861 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in Telephone and Data Systems by 48.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,402 shares of the Wireless communications provider’s stock valued at $94,000 after buying an additional 783 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on TDS. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Finally, Citigroup increased their price objective on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Telephone and Data Systems Trading Down 0.1%

Shares of NYSE:TDS opened at $42.75 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.09 and a current ratio of 2.10. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -65.76 and a beta of 0.34. Telephone and Data Systems, Inc. has a 1-year low of $31.07 and a 1-year high of $47.79. The company has a 50 day moving average price of $44.59 and a 200 day moving average price of $40.95.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, February 20th. The Wireless communications provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. Telephone and Data Systems had a positive return on equity of 2.25% and a negative net margin of 0.21%.The firm had revenue of $330.71 million for the quarter, compared to analysts’ expectations of $319.28 million. During the same quarter last year, the business posted ($0.10) EPS. Telephone and Data Systems’s revenue was up 12.0% on a year-over-year basis. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, March 16th. Telephone and Data Systems’s payout ratio is presently -24.62%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.