Raymond James & Associates Has $1.37 Million Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Raymond James & Associates cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,478 shares of the Wireless communications provider’s stock after selling 2,308 shares during the quarter. Raymond James & Associates owned about 0.15% of Telephone and Data Systems worth $1,370,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp boosted its stake in Telephone and Data Systems by 30.8% in the 1st quarter. State Street Corp now owns 18,359,669 shares of the Wireless communications provider’s stock valued at $346,631,000 after purchasing an additional 4,322,948 shares during the period. Millennium Management LLC boosted its stake in Telephone and Data Systems by 289.1% in the 4th quarter. Millennium Management LLC now owns 1,627,813 shares of the Wireless communications provider’s stock valued at $17,076,000 after purchasing an additional 1,209,458 shares during the period. Norges Bank bought a new stake in Telephone and Data Systems in the 4th quarter valued at $8,836,000. Prudential Financial Inc. boosted its stake in Telephone and Data Systems by 100.0% in the 1st quarter. Prudential Financial Inc. now owns 1,514,303 shares of the Wireless communications provider’s stock valued at $15,915,000 after purchasing an additional 757,125 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Telephone and Data Systems by 292.9% in the 1st quarter. JPMorgan Chase & Co. now owns 859,623 shares of the Wireless communications provider’s stock valued at $9,035,000 after purchasing an additional 640,826 shares during the period. 95.40% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $19.05 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.37 and a debt-to-equity ratio of 0.71. Telephone and Data Systems, Inc. has a twelve month low of $6.43 and a twelve month high of $21.75. The company has a market cap of $2.15 billion, a P/E ratio of -22.41 and a beta of 0.90. The business has a fifty day simple moving average of $18.34 and a 200 day simple moving average of $12.59.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). Telephone and Data Systems had a negative return on equity of 0.51% and a negative net margin of 0.53%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.15 earnings per share. Telephone and Data Systems’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.58 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.185 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.74 dividend on an annualized basis and a yield of 3.88%. Telephone and Data Systems’s payout ratio is presently -87.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TDS shares. Citigroup upped their target price on Telephone and Data Systems from $16.00 to $23.00 in a research report on Friday, August 18th. JPMorgan Chase & Co. upgraded Telephone and Data Systems from a “neutral” rating to an “overweight” rating and set a $38.00 target price for the company in a research report on Tuesday, August 8th. StockNews.com started coverage on Telephone and Data Systems in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Morgan Stanley upped their target price on Telephone and Data Systems from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.33.

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.