Stifel Financial Corp Trims Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Stifel Financial Corp lessened its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,487 shares of the Wireless communications provider’s stock after selling 1,323 shares during the quarter. Stifel Financial Corp’s holdings in Telephone and Data Systems were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TDS. Allspring Global Investments Holdings LLC purchased a new position in shares of Telephone and Data Systems during the 2nd quarter worth approximately $2,369,000. Algert Global LLC lifted its stake in Telephone and Data Systems by 35.8% during the second quarter. Algert Global LLC now owns 220,145 shares of the Wireless communications provider’s stock worth $4,564,000 after purchasing an additional 57,981 shares in the last quarter. 272 Capital LP grew its stake in shares of Telephone and Data Systems by 51.8% in the second quarter. 272 Capital LP now owns 117,136 shares of the Wireless communications provider’s stock valued at $2,428,000 after buying an additional 39,976 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Telephone and Data Systems in the 3rd quarter valued at $1,308,000. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Telephone and Data Systems by 33.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 115,142 shares of the Wireless communications provider’s stock valued at $2,387,000 after buying an additional 28,866 shares during the period. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 4th.

Telephone and Data Systems Stock Up 0.2 %

Shares of NYSE TDS opened at $34.84 on Monday. The stock has a market cap of $3.94 billion, a P/E ratio of -6.45 and a beta of 0.81. The business’s fifty day simple moving average is $32.22 and its 200-day simple moving average is $25.49. Telephone and Data Systems, Inc. has a 12-month low of $13.69 and a 12-month high of $35.39. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.24 billion. During the same quarter last year, the company earned ($0.16) EPS. Telephone and Data Systems’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems’s dividend payout ratio is presently -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.