Intech Investment Management LLC Decreases Holdings in Telephone and Data Systems, Inc. $TDS

Intech Investment Management LLC cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 23.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 95,393 shares of the Wireless communications provider’s stock after selling 29,017 shares during the quarter. Intech Investment Management LLC’s holdings in Telephone and Data Systems were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oaktree Capital Management LP purchased a new stake in Telephone and Data Systems during the 3rd quarter valued at $144,732,000. Carronade Capital Management LP raised its stake in Telephone and Data Systems by 8.5% during the 3rd quarter. Carronade Capital Management LP now owns 3,680,500 shares of the Wireless communications provider’s stock valued at $144,423,000 after buying an additional 288,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Telephone and Data Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,415,553 shares of the Wireless communications provider’s stock valued at $99,053,000 after buying an additional 66,814 shares during the last quarter. Rubric Capital Management LP purchased a new stake in Telephone and Data Systems during the 3rd quarter valued at $62,784,000. Finally, Davidson Kempner Capital Management LP purchased a new stake in Telephone and Data Systems during the 3rd quarter valued at $55,395,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial lowered shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup boosted their price objective on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.33.

Telephone and Data Systems Trading Up 0.8%

Shares of TDS stock opened at $39.44 on Tuesday. Telephone and Data Systems, Inc. has a 1 year low of $32.60 and a 1 year high of $49.12. The firm has a fifty day moving average price of $43.32 and a 200-day moving average price of $42.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 74.42 and a beta of 0.28.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.98. The firm had revenue of $309.45 million during the quarter, compared to the consensus estimate of $313.28 million. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, equities analysts predict that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is currently 30.19%.

Telephone and Data Systems Profile

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.