Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,026 shares of the Wireless communications provider’s stock after selling 8,228 shares during the period. Legal & General Group Plc owned about 0.26% of Telephone and Data Systems worth $9,961,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky acquired a new position in Telephone and Data Systems during the fourth quarter worth $41,000. Federated Hermes Inc. acquired a new position in shares of Telephone and Data Systems during the 4th quarter worth $56,000. SBI Securities Co. Ltd. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter worth about $74,000. Versant Capital Management Inc grew its stake in Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after acquiring an additional 303 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Telephone and Data Systems by 74.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after acquiring an additional 1,156 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 0.9 %

TDS opened at $36.47 on Friday. The firm has a market cap of $4.16 billion, a P/E ratio of -6.75 and a beta of 0.62. The business’s fifty day simple moving average is $36.64 and its 200 day simple moving average is $33.57. Telephone and Data Systems, Inc. has a 52 week low of $14.04 and a 52 week high of $41.21. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85.

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

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.44%. Telephone and Data Systems’s payout ratio is currently -18.60%.

Wall Street Analyst Weigh In

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

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.