Everence Capital Management Inc. Reduces Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Everence Capital Management Inc. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 39.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,730 shares of the Wireless communications provider’s stock after selling 5,110 shares during the quarter. Everence Capital Management Inc.’s holdings in Telephone and Data Systems were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC increased its stake in Telephone and Data Systems by 35.8% during the 2nd quarter. Algert Global LLC now owns 220,145 shares of the Wireless communications provider’s stock valued at $4,564,000 after purchasing an additional 57,981 shares in the last quarter. 272 Capital LP increased its position in shares of Telephone and Data Systems by 51.8% in the 2nd quarter. 272 Capital LP now owns 117,136 shares of the Wireless communications provider’s stock valued at $2,428,000 after acquiring an additional 39,976 shares during the period. GSA Capital Partners LLP purchased a new position in Telephone and Data Systems in the 3rd quarter worth $1,308,000. Texas Permanent School Fund Corp raised its stake in 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 worth $2,387,000 after acquiring an additional 28,866 shares during the last quarter. Finally, TCW Group Inc. lifted its position in Telephone and Data Systems by 3.2% during the 3rd quarter. TCW Group Inc. now owns 566,832 shares of the Wireless communications provider’s stock worth $13,179,000 after acquiring an additional 17,400 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Performance

Shares of TDS stock opened at $32.72 on Wednesday. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $35.39. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock has a market cap of $3.70 billion, a PE ratio of -6.06 and a beta of 0.81. The business has a 50-day simple moving average of $32.90 and a 200-day simple moving average of $26.11.

Telephone and Data Systems (NYSE:TDS) last announced 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. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. Telephone and Data Systems’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) earnings per share. On average, equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -2.96%.

Wall Street Analyst Weigh In

TDS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research note on Thursday, November 7th.

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.