Hsbc Holdings PLC lifted its stake in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 198.9% in the 4th quarter, HoldingsChannel reports. The firm owned 23,315 shares of the Wireless communications provider’s stock after acquiring an additional 15,516 shares during the period. Hsbc Holdings PLC’s holdings in Telephone and Data Systems were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its position in Telephone and Data Systems by 51.3% during the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 231 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Telephone and Data Systems in the third quarter worth about $33,000. Caitong International Asset Management Co. Ltd increased its position in Telephone and Data Systems by 2,779.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 1,084 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after buying an additional 861 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Telephone and Data Systems in the fourth quarter worth about $91,000. 80.00% of the stock is owned by institutional investors.
Analysts Set New Price Targets
TDS has been the topic of a number of analyst reports. Weiss Ratings cut Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.33.
Telephone and Data Systems Stock Performance
NYSE:TDS opened at $33.39 on Tuesday. The stock has a 50-day moving average price of $39.44 and a 200 day moving average price of $42.41. The stock has a market capitalization of $3.80 billion, a P/E ratio of 63.00 and a beta of 0.30. Telephone and Data Systems, Inc. has a 12-month low of $33.37 and a 12-month high of $49.12. The company has a current ratio of 3.43, a quick ratio of 3.42 and a debt-to-equity ratio of 0.16.
Telephone and Data Systems (NYSE:TDS – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.98. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.The company had revenue of $309.45 million for the quarter, compared to analysts’ expectations of $313.27 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.
Telephone and Data Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Telephone and Data Systems’s payout ratio is 30.19%.
About Telephone and Data Systems
Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.
TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.
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