UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 252,785 shares of the Wireless communications provider’s stock after selling 5,214 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Telephone and Data Systems worth $5,877,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after buying an additional 1,674 shares in the last quarter. Quarry LP bought a new stake in Telephone and Data Systems in the second quarter worth about $40,000. CWM LLC raised its position in Telephone and Data Systems by 57.0% in the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 1,430 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Telephone and Data Systems in the 2nd quarter worth about $88,000. Finally, Nisa Investment Advisors LLC increased its stake in Telephone and Data Systems by 14.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TDS. Raymond James raised Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Performance

Shares of NYSE:TDS opened at $33.18 on Wednesday. The business’s fifty day moving average price is $29.38 and its two-hundred day moving average price is $24.13. Telephone and Data Systems, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $34.78. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s payout ratio is -2.96%.

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.