Bank of New York Mellon Corp Sells 288,408 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Bank of New York Mellon Corp lessened its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 919,789 shares of the Wireless communications provider’s stock after selling 288,408 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Telephone and Data Systems worth $31,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TDS. Silver Point Capital L.P. bought a new stake in shares of Telephone and Data Systems in the third quarter worth about $29,062,000. Loomis Sayles & Co. L P lifted its holdings in shares of Telephone and Data Systems by 35.3% during the third quarter. Loomis Sayles & Co. L P now owns 523,150 shares of the Wireless communications provider’s stock valued at $12,163,000 after purchasing an additional 136,419 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Telephone and Data Systems by 66.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 284,906 shares of the Wireless communications provider’s stock valued at $6,624,000 after purchasing an additional 113,862 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Telephone and Data Systems by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider’s stock valued at $34,035,000 after purchasing an additional 103,114 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Telephone and Data Systems by 26.9% during the third quarter. Point72 Asset Management L.P. now owns 470,018 shares of the Wireless communications provider’s stock valued at $10,928,000 after purchasing an additional 99,520 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective 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 Trading Up 2.5 %

Shares of TDS stock opened at $35.51 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -6.58 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 fifty day moving average price of $35.87 and a 200-day moving average price of $30.85.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.04 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. Telephone and Data Systems’s payout ratio is presently -18.60%.

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.