Governors Lane LP Reduces Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Governors Lane LP lessened its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 28.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 283,831 shares of the Wireless communications provider’s stock after selling 113,669 shares during the period. Telephone and Data Systems accounts for approximately 0.8% of Governors Lane LP’s portfolio, making the stock its 28th biggest position. Governors Lane LP owned about 0.25% of Telephone and Data Systems worth $9,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its stake in Telephone and Data Systems by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider’s stock worth $352,000 after purchasing an additional 482 shares during the period. Voya Investment Management LLC increased its holdings in shares of Telephone and Data Systems by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider’s stock worth $1,793,000 after buying an additional 808 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Telephone and Data Systems by 74.5% during the 4th 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 period. Independence Bank of Kentucky acquired a new position in Telephone and Data Systems in the fourth quarter valued at approximately $41,000. Finally, Swiss National Bank grew its position in Telephone and Data Systems by 0.8% in the fourth quarter. Swiss National Bank now owns 198,100 shares of the Wireless communications provider’s stock worth $6,757,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 1.8 %

Telephone and Data Systems stock opened at $34.57 on Friday. The company has a market capitalization of $3.94 billion, a PE ratio of -6.40 and a beta of 0.57. 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 fifty-two week low of $16.64 and a fifty-two week high of $41.21. The firm has a 50 day moving average price of $36.01 and a 200 day moving average price of $34.79.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Telephone and Data Systems’s dividend payout ratio is presently -15.24%.

Analysts Set New Price Targets

A number of research firms have commented on TDS. JPMorgan Chase & Co. lifted their target price on 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. Raymond James restated an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

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.