Invesco Ltd. Decreases Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Invesco Ltd. lessened its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,494 shares of the Wireless communications provider’s stock after selling 273,887 shares during the period. Invesco Ltd.’s holdings in Telephone and Data Systems were worth $43,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Telephone and Data Systems by 1.6% in the 3rd quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider’s stock valued at $93,908,000 after acquiring an additional 65,432 shares during the period. American Century Companies Inc. raised its position in shares of Telephone and Data Systems by 6.7% in the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock valued at $110,161,000 after purchasing an additional 203,897 shares during the period. Geode Capital Management LLC raised its position in shares of Telephone and Data Systems by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider’s stock valued at $53,278,000 after purchasing an additional 43,470 shares during the period. Norges Bank purchased a new stake in shares of Telephone and Data Systems during the 4th quarter valued at approximately $23,776,000. Finally, JPMorgan Chase & Co. boosted its holdings in Telephone and Data Systems by 42.3% in the 4th quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider’s stock worth $22,260,000 after buying an additional 194,136 shares during the period. Institutional investors own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 24th.

Telephone and Data Systems Trading Up 0.9 %

Shares of TDS opened at $36.88 on Wednesday. The business’s 50-day moving average price is $36.68 and its 200-day moving average price is $33.46. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a twelve month low of $14.04 and a twelve month high of $41.21. The stock has a market cap of $4.20 billion, a PE ratio of -6.83 and a beta of 0.62.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.23. The business 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%. On average, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a 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.