Meeder Asset Management Inc. Sells 22,840 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Meeder Asset Management Inc. reduced its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 85.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,770 shares of the Wireless communications provider’s stock after selling 22,840 shares during the quarter. Meeder Asset Management Inc.’s holdings in Telephone and Data Systems were worth $129,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in Telephone and Data Systems in the fourth quarter worth approximately $41,000. SBI Securities Co. Ltd. acquired a new position in Telephone and Data Systems during the 4th quarter valued at about $74,000. Versant Capital Management Inc boosted its stake in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 303 shares during the last quarter. Quarry LP increased its holdings in Telephone and Data Systems by 35.5% during the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after purchasing an additional 692 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Telephone and Data Systems by 74.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after purchasing an additional 1,156 shares during the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Trading Up 1.3 %

NYSE TDS opened at $39.25 on Wednesday. Telephone and Data Systems, Inc. has a one year low of $14.04 and a one year high of $41.21. The business’s fifty day moving average is $36.60 and its 200-day moving average is $32.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -7.27 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Equities research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. Telephone and Data Systems’s dividend payout ratio is presently -18.60%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th.

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.