Venturi Wealth Management LLC Takes $155,000 Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Venturi Wealth Management LLC acquired a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,530 shares of the Wireless communications provider’s stock, valued at approximately $155,000.

A number of other large investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc purchased a new stake in shares of Telephone and Data Systems during the fourth quarter valued at $337,000. Principal Financial Group Inc. grew its holdings in shares of Telephone and Data Systems by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 472,988 shares of the Wireless communications provider’s stock valued at $16,134,000 after buying an additional 13,208 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Telephone and Data Systems during the fourth quarter valued at $2,272,000. Congress Asset Management Co. lifted its position in Telephone and Data Systems by 15.4% during the fourth quarter. Congress Asset Management Co. now owns 214,801 shares of the Wireless communications provider’s stock valued at $7,327,000 after purchasing an additional 28,671 shares during the period. Finally, Rhumbline Advisers lifted its position in Telephone and Data Systems by 1.2% during the fourth quarter. Rhumbline Advisers now owns 304,735 shares of the Wireless communications provider’s stock valued at $10,394,000 after purchasing an additional 3,688 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Down 4.1 %

TDS stock opened at $38.00 on Friday. The stock has a market capitalization of $4.29 billion, a P/E ratio of -7.04 and a beta of 0.80. The firm has a 50-day simple moving average of $35.59 and a 200-day simple moving average of $29.73. 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 52 week low of $13.92 and a 52 week high of $41.21.

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

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 0.42%. Telephone and Data Systems’s dividend payout ratio (DPR) is -2.96%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of 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 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.