Telephone and Data Systems, Inc. (NYSE:TDS) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 56.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,656 shares of the Wireless communications provider’s stock after purchasing an additional 8,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Telephone and Data Systems were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth approximately $46,000. Neo Ivy Capital Management acquired a new stake in shares of Telephone and Data Systems in the third quarter valued at $109,000. Waldron Private Wealth LLC purchased a new stake in shares of Telephone and Data Systems in the 3rd quarter valued at $201,000. PNC Financial Services Group Inc. raised its holdings in shares of Telephone and Data Systems by 104.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 19,043 shares of the Wireless communications provider’s stock valued at $349,000 after buying an additional 9,730 shares during the period. Finally, SteelPeak Wealth LLC boosted its holdings in Telephone and Data Systems by 19.3% during the 3rd quarter. SteelPeak Wealth LLC now owns 19,608 shares of the Wireless communications provider’s stock valued at $359,000 after acquiring an additional 3,167 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Telephone and Data Systems Stock Down 11.4 %

Shares of NYSE TDS opened at $14.36 on Friday. The stock has a market cap of $1.62 billion, a P/E ratio of -2.84 and a beta of 0.81. The business’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $17.40. Telephone and Data Systems, Inc. has a 12-month low of $6.43 and a 12-month high of $21.75. 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 issued its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.21% and a negative net margin of 9.69%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. Telephone and Data Systems’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts predict 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 paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Telephone and Data Systems’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 5.29%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -15.05%.

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.