Royce & Associates LP cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 859,605 shares of the Wireless communications provider’s stock after selling 20,655 shares during the period. Royce & Associates LP owned about 0.78% of Telephone and Data Systems worth $23,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Telephone and Data Systems by 4.0% in the 2nd quarter. BlackRock Inc. now owns 17,438,950 shares of the Wireless communications provider’s stock worth $483,932,000 after buying an additional 665,746 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Telephone and Data Systems by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,763,784 shares of the Wireless communications provider’s stock worth $270,946,000 after buying an additional 95,665 shares in the last quarter. State Street Corp increased its holdings in Telephone and Data Systems by 38.3% during the 2nd quarter. State Street Corp now owns 9,044,177 shares of the Wireless communications provider’s stock valued at $250,974,000 after purchasing an additional 2,505,860 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Telephone and Data Systems by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,459,690 shares of the Wireless communications provider’s stock valued at $208,051,000 after purchasing an additional 162,319 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in Telephone and Data Systems by 0.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,889,710 shares of the Wireless communications provider’s stock valued at $80,189,000 after purchasing an additional 26,000 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on TDS. Zacks Investment Research cut Telephone and Data Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Drexel Hamilton raised Telephone and Data Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.00.

Telephone and Data Systems, Inc. (NYSE TDS) traded up $0.15 during mid-day trading on Friday, reaching $26.59. The company had a trading volume of 389,047 shares, compared to its average volume of 582,466. Telephone and Data Systems, Inc. has a 12-month low of $24.57 and a 12-month high of $32.97. The firm has a market cap of $2,951.49, a PE ratio of 59.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.42 and a quick ratio of 2.29.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). Telephone and Data Systems had a negative net margin of 2.77% and a positive return on equity of 1.08%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. equities research analysts forecast that Telephone and Data Systems, Inc. will post -1.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.62 dividend on an annualized basis and a yield of 2.33%. Telephone and Data Systems’s dividend payout ratio is -48.82%.

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Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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Institutional Ownership by Quarter for Telephone and Data Systems (NYSE:TDS)

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