Sumitomo Mitsui Trust Group Inc. Takes Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,000 shares of the Wireless communications provider’s stock, valued at approximately $239,000.

Several other large investors have also modified their holdings of the stock. State Street Corp boosted its stake in shares of Telephone and Data Systems by 1.6% during the 3rd quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider’s stock worth $93,908,000 after acquiring an additional 65,432 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Telephone and Data Systems by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider’s stock worth $53,278,000 after acquiring an additional 43,470 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Telephone and Data Systems by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider’s stock worth $34,035,000 after acquiring an additional 103,114 shares in the last quarter. Silver Point Capital L.P. bought a new stake in shares of Telephone and Data Systems during the 3rd quarter worth $29,062,000. Finally, FMR LLC boosted its stake in shares of Telephone and Data Systems by 0.3% during the 3rd quarter. FMR LLC now owns 1,152,579 shares of the Wireless communications provider’s stock worth $26,797,000 after acquiring an additional 3,002 shares in the last quarter. 80.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TDS shares. Raymond James raised 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. JPMorgan Chase & Co. raised their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $39.52 on Friday. The stock has a market cap of $4.47 billion, a PE ratio of -7.32 and a beta of 0.80. The business has a fifty day simple moving average of $35.07 and a 200-day simple moving average of $29.13. 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 12 month low of $13.69 and a 12 month high of $39.54.

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.04 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -2.96%.

Telephone and Data Systems 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.