Mackenzie Financial Corp Sells 2,283 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Mackenzie Financial Corp decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,664 shares of the Wireless communications provider’s stock after selling 2,283 shares during the quarter. Mackenzie Financial Corp’s holdings in Telephone and Data Systems were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Anchor Investment Management LLC bought a new position in shares of Telephone and Data Systems in the fourth quarter worth $46,000. Neo Ivy Capital Management bought a new position in shares of Telephone and Data Systems in the third quarter worth $109,000. Waldron Private Wealth LLC bought a new position in shares of Telephone and Data Systems in the third quarter worth $201,000. PNC Financial Services Group Inc. increased its holdings in shares of Telephone and Data Systems by 104.5% in the third quarter. PNC Financial Services Group Inc. now owns 19,043 shares of the Wireless communications provider’s stock worth $349,000 after purchasing an additional 9,730 shares during the period. Finally, SteelPeak Wealth LLC increased its holdings in shares of Telephone and Data Systems by 19.3% in the third quarter. SteelPeak Wealth LLC now owns 19,608 shares of the Wireless communications provider’s stock worth $359,000 after purchasing an additional 3,167 shares during the period. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Down 3.3 %

Shares of NYSE:TDS opened at $15.55 on Friday. Telephone and Data Systems, Inc. has a 52-week low of $6.43 and a 52-week high of $21.75. The firm has a fifty day moving average of $15.44 and a 200 day moving average of $17.50. The company has a current ratio of 1.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.83.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 16th. The Wireless communications provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. Telephone and Data Systems had a negative net margin of 9.69% and a positive return on equity of 0.21%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted ($0.38) earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Telephone and Data Systems, Inc. will post -1 EPS for the current fiscal year.

Telephone and Data Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.89%. This is a positive change from Telephone and Data Systems’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 14th. Telephone and Data Systems’s dividend payout ratio is presently -15.05%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th.

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.