Private Management Group Inc. Cuts Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Private Management Group Inc. cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 26.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,300,545 shares of the Wireless communications provider’s stock after selling 474,874 shares during the quarter. Telephone and Data Systems comprises about 1.6% of Private Management Group Inc.’s holdings, making the stock its 7th biggest holding. Private Management Group Inc. owned about 1.15% of Telephone and Data Systems worth $44,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Independence Bank of Kentucky bought a new position in Telephone and Data Systems in the fourth quarter worth about $41,000. Versant Capital Management Inc grew its holdings in shares of Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 303 shares during the period. Quarry LP raised its position in shares of Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after acquiring an additional 692 shares in the last quarter. KBC Group NV lifted its stake in shares of Telephone and Data Systems by 70.6% in the 4th quarter. KBC Group NV now owns 4,853 shares of the Wireless communications provider’s stock valued at $166,000 after purchasing an additional 2,008 shares during the period. Finally, CWM LLC boosted its position in shares of Telephone and Data Systems by 26.8% during the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider’s stock valued at $116,000 after purchasing an additional 1,056 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TDS shares. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 4th.

Telephone and Data Systems Stock Performance

TDS stock opened at $36.55 on Thursday. The business has a 50 day moving average of $34.52 and a 200 day moving average of $28.25. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $36.66. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.44%. Telephone and Data Systems’s payout ratio is presently -2.96%.

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.