Raymond James Financial Inc. Buys New Shares in Telephone and Data Systems, Inc. (NYSE:TDS)

Raymond James Financial Inc. purchased a new position in Telephone and Data Systems, Inc. (NYSE:TDS) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 164,722 shares of the Wireless communications provider’s stock, valued at approximately $5,619,000.

A number of other institutional investors also recently bought and sold shares of TDS. Independence Bank of Kentucky purchased a new position in shares of Telephone and Data Systems during the 4th quarter valued at about $41,000. Quarry LP boosted its stake in shares of Telephone and Data Systems by 35.5% in the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after buying an additional 692 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Telephone and Data Systems during the fourth quarter worth about $74,000. Versant Capital Management Inc raised its position in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after acquiring an additional 303 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Telephone and Data Systems by 139.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 2,186 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of NYSE 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 debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The firm has a fifty day moving average of $36.22 and a 200 day moving average of $31.85. The firm has a market cap of $4.29 billion, a PE ratio of -6.96 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.23. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 17th. Telephone and Data Systems’s dividend payout ratio is currently -18.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note 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.