Congress Asset Management Co. MA Lowers Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Congress Asset Management Co. MA decreased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,647 shares of the Wireless communications provider’s stock after selling 40,792 shares during the quarter. Congress Asset Management Co. MA owned about 0.16% of Telephone and Data Systems worth $3,407,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TDS. Principal Securities Inc. bought a new stake in shares of Telephone and Data Systems in the 4th quarter worth $25,000. Anchor Investment Management LLC bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $46,000. Quarry LP bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $60,000. GAMMA Investing LLC bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $93,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Telephone and Data Systems by 14.0% in the fourth quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock worth $93,000 after acquiring an additional 622 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TDS. JPMorgan Chase & Co. cut their price objective on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. StockNews.com raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th.

Telephone and Data Systems Price Performance

NYSE TDS opened at $19.17 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $18.15 and its 200 day moving average is $17.60. Telephone and Data Systems, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $23.35.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.15. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. Telephone and Data Systems’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. Research analysts forecast that Telephone and Data Systems, Inc. will post -0.34 EPS for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.16 annualized dividend and a yield of 0.83%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.29%.

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.