Quest Partners LLC Sells 2,371 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Quest Partners LLC lessened its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 37.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,945 shares of the Wireless communications provider’s stock after selling 2,371 shares during the period. Quest Partners LLC’s holdings in Telephone and Data Systems were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Telephone and Data Systems by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock worth $201,365,000 after acquiring an additional 320,976 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Telephone and Data Systems by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider’s stock worth $87,810,000 after purchasing an additional 774,892 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Telephone and Data Systems by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider’s stock worth $33,515,000 after purchasing an additional 88,994 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Telephone and Data Systems by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,328,067 shares of the Wireless communications provider’s stock valued at $24,370,000 after purchasing an additional 20,516 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Telephone and Data Systems by 17.1% in the first quarter. Bridgeway Capital Management LLC now owns 1,246,195 shares of the Wireless communications provider’s stock valued at $19,964,000 after buying an additional 181,790 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th.

Telephone and Data Systems Price Performance

Shares of TDS opened at $23.63 on Wednesday. The stock has a market cap of $2.67 billion, a P/E ratio of -4.85 and a beta of 0.81. The business’s fifty day moving average is $21.70 and its 200 day moving average is $19.16. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 0.84. Telephone and Data Systems, Inc. has a 12-month low of $13.69 and a 12-month high of $24.92.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.43 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, September 16th. Telephone and Data Systems’s payout ratio is -3.29%.

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.