Telephone and Data Systems (NYSE:TDS) Sets New 52-Week High – Here’s What Happened

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.49 and last traded at $47.34, with a volume of 50284 shares trading hands. The stock had previously closed at $46.82.

Wall Street Analysts Forecast Growth

TDS has been the topic of several recent research reports. Citigroup increased their target price on Telephone and Data Systems from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Wall Street Zen lowered shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telephone and Data Systems in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.67.

Telephone and Data Systems Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.89 and a quick ratio of 1.88. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -44.09 and a beta of 0.32. The stock has a fifty day moving average of $42.32 and a 200 day moving average of $40.04.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Telephone and Data Systems’s payout ratio is -14.81%.

Institutional Trading of Telephone and Data Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its position in shares of Telephone and Data Systems by 51.3% during the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 231 shares during the last quarter. Bessemer Group Inc. increased its stake in Telephone and Data Systems by 65.6% during the 3rd quarter. Bessemer Group Inc. now owns 699 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 277 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Telephone and Data Systems by 121.3% during the third quarter. Jones Financial Companies Lllp now owns 830 shares of the Wireless communications provider’s stock valued at $31,000 after acquiring an additional 455 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Telephone and Data Systems in the 3rd quarter valued at $33,000. Finally, Assetmark Inc. lifted its stake in shares of Telephone and Data Systems by 53.1% in the second quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

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.