Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Highbridge Capital Management LLC

Highbridge Capital Management LLC reduced its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 96.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the Wireless communications provider’s stock after selling 263,845 shares during the period. Highbridge Capital Management LLC’s holdings in Telephone and Data Systems were worth $341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new position in shares of Telephone and Data Systems during the 4th quarter valued at approximately $41,000. Quarry LP grew its position in shares of Telephone and Data Systems by 35.5% during 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 period. SBI Securities Co. Ltd. purchased a new stake in shares of Telephone and Data Systems in the fourth quarter valued at approximately $74,000. Versant Capital Management Inc raised its position in Telephone and Data Systems by 14.5% during the fourth 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 period. Finally, Farther Finance Advisors LLC grew its position in shares of 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 purchasing an additional 1,156 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 1.9 %

Shares of TDS opened at $38.79 on Friday. The stock has a 50 day moving average price of $36.44 and a 200 day moving average price of $32.05. 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 debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -7.18 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. Equities research 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 0.41%. Telephone and Data Systems’s dividend payout ratio is currently -18.60%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target 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.

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.