Highbridge Capital Management LLC Lowers Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Highbridge Capital Management LLC cut its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 96.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the Wireless communications provider’s stock after selling 263,845 shares during the quarter. Highbridge Capital Management LLC’s holdings in Telephone and Data Systems were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Telephone and Data Systems by 1.6% during the 3rd quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider’s stock valued at $93,908,000 after acquiring an additional 65,432 shares during the period. American Century Companies Inc. boosted its stake in shares of Telephone and Data Systems by 6.7% in the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock valued at $110,161,000 after purchasing an additional 203,897 shares during the period. Geode Capital Management LLC boosted its stake in shares of Telephone and Data Systems by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider’s stock valued at $53,278,000 after purchasing an additional 43,470 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Telephone and Data Systems by 7.6% in 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 in the last quarter. Finally, Silver Point Capital L.P. purchased a new stake in Telephone and Data Systems during the 3rd quarter worth approximately $29,062,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

TDS stock opened at $38.79 on Friday. 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 market capitalization of $4.42 billion, a P/E ratio of -7.18 and a beta of 0.75. 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 business’s 50-day moving average is $36.44 and its two-hundred day moving average is $32.05.

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 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 the consensus estimate of $1.23 billion. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Telephone and Data Systems’s payout ratio is currently -18.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their price target on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

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.