Summit Global Investments Takes $463,000 Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Summit Global Investments purchased a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,579 shares of the Wireless communications provider’s stock, valued at approximately $463,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Xponance Inc. purchased a new position in shares of Telephone and Data Systems during the fourth quarter worth about $244,000. Cibc World Markets Corp acquired a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $315,000. Envestnet Portfolio Solutions Inc. purchased a new position in Telephone and Data Systems during the 4th quarter worth approximately $205,000. Swiss National Bank increased its position in Telephone and Data Systems by 0.8% during the fourth quarter. Swiss National Bank now owns 198,100 shares of the Wireless communications provider’s stock worth $6,757,000 after buying an additional 1,500 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Telephone and Data Systems by 74.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after buying an additional 1,156 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

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 research report on Monday, February 24th.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $37.61 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a one year low of $14.04 and a one year high of $41.21. The company has a 50-day simple moving average of $36.22 and a 200-day simple moving average of $31.85. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -6.96 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share 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 company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. On average, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

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

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.