Millennium Management LLC Increases Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Millennium Management LLC grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 34.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,950,298 shares of the Wireless communications provider’s stock after buying an additional 495,189 shares during the quarter. Millennium Management LLC owned about 1.73% of Telephone and Data Systems worth $40,430,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TDS. Empyrean Capital Partners LP lifted its holdings in Telephone and Data Systems by 44.4% in the second quarter. Empyrean Capital Partners LP now owns 288,800 shares of the Wireless communications provider’s stock valued at $5,987,000 after acquiring an additional 88,800 shares during the period. AQR Capital Management LLC increased its holdings in shares of Telephone and Data Systems by 0.6% in the 2nd quarter. AQR Capital Management LLC now owns 222,288 shares of the Wireless communications provider’s stock valued at $4,590,000 after purchasing an additional 1,376 shares in the last quarter. Caxton Associates LP lifted its stake in shares of Telephone and Data Systems by 183.2% in the second quarter. Caxton Associates LP now owns 138,529 shares of the Wireless communications provider’s stock valued at $2,872,000 after purchasing an additional 89,607 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Telephone and Data Systems during the second quarter worth about $879,000. Finally, 272 Capital LP grew its position in Telephone and Data Systems by 51.8% during the second quarter. 272 Capital LP now owns 117,136 shares of the Wireless communications provider’s stock worth $2,428,000 after buying an additional 39,976 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

TDS stock opened at $23.43 on Wednesday. The firm has a 50 day moving average of $22.04 and a 200-day moving average of $19.64. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -4.81 and a beta of 0.81. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. Telephone and Data Systems, Inc. has a 12-month low of $13.69 and a 12-month high of $24.92.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, equities analysts expect that Telephone and Data Systems, Inc. will post -0.43 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.04 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. Telephone and Data Systems’s dividend payout ratio (DPR) is -3.29%.

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.