Raymond James Financial Inc. Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

Raymond James Financial Inc. purchased a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 164,722 shares of the Wireless communications provider’s stock, valued at approximately $5,619,000. Raymond James Financial Inc. owned approximately 0.15% of Telephone and Data Systems as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Aigen Investment Management LP increased its holdings in Telephone and Data Systems by 13.4% during the 4th quarter. Aigen Investment Management LP now owns 15,412 shares of the Wireless communications provider’s stock worth $526,000 after purchasing an additional 1,823 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Telephone and Data Systems during the fourth quarter valued at $2,422,000. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems during the fourth quarter valued at $74,000. Bailard Inc. bought a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $389,000. Finally, Smartleaf Asset Management LLC lifted its stake in Telephone and Data Systems by 139.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 2,186 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 2.1 %

Shares of NYSE TDS opened at $37.61 on Tuesday. Telephone and Data Systems, Inc. has a 12-month low of $14.04 and a 12-month high of $41.21. The stock’s fifty day simple moving average is $36.22 and its two-hundred day simple moving average is $31.85. The stock has a market capitalization of $4.29 billion, a PE ratio of -6.96 and a beta of 0.75. 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 issued its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.23. 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 $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. As a group, analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 17th. Telephone and Data Systems’s payout ratio is currently -18.60%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

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.