Summit Global Investments Acquires New Position in Telephone and Data Systems, Inc. (NYSE:TDS)

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

A number of other large investors have also modified their holdings of TDS. Natixis Advisors LLC grew its holdings in Telephone and Data Systems by 23.7% during the third quarter. Natixis Advisors LLC now owns 69,818 shares of the Wireless communications provider’s stock worth $1,624,000 after acquiring an additional 13,385 shares during the period. Quest Partners LLC boosted its position in shares of Telephone and Data Systems by 277.6% during the 3rd quarter. Quest Partners LLC now owns 14,897 shares of the Wireless communications provider’s stock worth $346,000 after purchasing an additional 10,952 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Telephone and Data Systems by 56.4% during the 3rd quarter. Intech Investment Management LLC now owns 57,001 shares of the Wireless communications provider’s stock worth $1,325,000 after purchasing an additional 20,564 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Telephone and Data Systems by 7.6% in the 3rd 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, Cerity Partners LLC increased its holdings in shares of Telephone and Data Systems by 19.3% in the 3rd quarter. Cerity Partners LLC now owns 20,078 shares of the Wireless communications provider’s stock valued at $467,000 after purchasing an additional 3,255 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped 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 Stock Up 2.1 %

TDS opened at $37.61 on Tuesday. 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 market cap of $4.29 billion, a price-to-earnings ratio of -6.96 and a beta of 0.75. The business’s fifty day moving average is $36.22 and its two-hundred day moving average is $31.85. 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 (NYSE:TDS) last issued its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.23. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations 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%. Analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.43%. Telephone and Data Systems’s dividend payout ratio is currently -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.