Deutsche Bank AG Sells 350,465 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Deutsche Bank AG decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 80.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,703 shares of the Wireless communications provider’s stock after selling 350,465 shares during the period. Deutsche Bank AG owned 0.08% of Telephone and Data Systems worth $2,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Third Point LLC increased its stake in shares of Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock valued at $204,660,000 after purchasing an additional 3,125,000 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Telephone and Data Systems by 6.7% during 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 in the last quarter. Gabelli Funds LLC increased its stake in shares of Telephone and Data Systems by 1.1% during the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider’s stock valued at $64,801,000 after purchasing an additional 20,721 shares in the last quarter. Carronade Capital Management LP bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $62,845,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Telephone and Data Systems by 3.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,257,662 shares of the Wireless communications provider’s stock valued at $42,899,000 after purchasing an additional 45,619 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of TDS opened at $33.94 on Thursday. Telephone and Data Systems, Inc. has a twelve month low of $16.64 and a twelve month high of $41.21. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $35.96 and a 200 day moving average of $35.09. The company has a market capitalization of $3.87 billion, a P/E ratio of -6.29 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s dividend payout ratio is currently -15.24%.

Analyst Ratings Changes

TDS has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised 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 research note on Monday, February 24th. Raymond James reissued an “outperform” rating and set a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th.

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.