Hoey Investments Inc. Reduces Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Hoey Investments Inc. cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 39.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,793 shares of the Wireless communications provider’s stock after selling 1,187 shares during the period. Hoey Investments Inc.’s holdings in Telephone and Data Systems were worth $61,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky purchased a new stake in Telephone and Data Systems during the fourth quarter valued at $41,000. Quarry LP grew its stake in shares of 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 valued at $61,000 after purchasing an additional 692 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Telephone and Data Systems during the 4th quarter valued at about $74,000. Versant Capital Management Inc lifted its stake in shares of 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 worth $82,000 after purchasing an additional 303 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings 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 buying an additional 1,156 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target 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 Stock Down 0.6 %

TDS stock opened at $38.54 on Monday. The business’s 50-day moving average price is $36.48 and its 200-day moving average price is $32.30. The stock has a market cap of $4.39 billion, a P/E ratio of -7.14 and a beta of 0.75. 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, Inc. has a twelve month low of $14.04 and a twelve month high of $41.21.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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%. On average, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Telephone and Data Systems’s payout ratio is presently -18.60%.

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.