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

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 56.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,656 shares of the Wireless communications provider’s stock after buying an additional 8,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Telephone and Data Systems were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in Telephone and Data Systems by 5.1% during the third quarter. New York State Teachers Retirement System now owns 146,186 shares of the Wireless communications provider’s stock valued at $2,677,000 after buying an additional 7,045 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Telephone and Data Systems by 88.1% in the 3rd quarter. Mackenzie Financial Corp now owns 53,947 shares of the Wireless communications provider’s stock valued at $913,000 after acquiring an additional 25,270 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of Telephone and Data Systems during the 3rd quarter valued at $201,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Telephone and Data Systems by 1,252.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 598,138 shares of the Wireless communications provider’s stock worth $10,952,000 after purchasing an additional 553,921 shares during the period. Finally, Inspire Investing LLC increased its holdings in Telephone and Data Systems by 38.2% in the 3rd quarter. Inspire Investing LLC now owns 51,943 shares of the Wireless communications provider’s stock valued at $951,000 after purchasing an additional 14,360 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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 Performance

NYSE:TDS opened at $14.36 on Friday. The firm has a 50-day moving average of $15.61 and a two-hundred day moving average of $17.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 1.23. The stock has a market cap of $1.62 billion, a P/E ratio of -2.84 and a beta of 0.81. Telephone and Data Systems, Inc. has a 1-year low of $6.43 and a 1-year high of $21.75.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Telephone and Data Systems’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts expect that Telephone and Data Systems, Inc. will post -1 earnings per share for the current fiscal year.

Telephone and Data Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.29%. This is an increase from Telephone and Data Systems’s previous quarterly dividend of $0.19. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -15.05%.

About Telephone and Data Systems

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.