Corebridge Financial Inc. Sells 4,096 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Corebridge Financial Inc. trimmed its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 7.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,479 shares of the Wireless communications provider’s stock after selling 4,096 shares during the quarter. Corebridge Financial Inc.’s holdings in Telephone and Data Systems were worth $1,790,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new stake in Telephone and Data Systems in the fourth quarter worth $41,000. Quarry LP lifted its stake in shares of Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock valued at $61,000 after acquiring an additional 692 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Telephone and Data Systems during the 4th quarter valued at about $74,000. Versant Capital Management Inc grew its position in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 303 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after purchasing an additional 1,156 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

Telephone and Data Systems stock opened at $39.53 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.51 billion, a P/E ratio of -7.32 and a beta of 0.75. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21. The firm has a 50-day moving average of $36.66 and a 200-day moving average of $32.57.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. Sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s payout ratio is -18.60%.

Analyst Upgrades and Downgrades

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