Meeder Asset Management Inc. Sells 22,840 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Meeder Asset Management Inc. reduced its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 85.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,770 shares of the Wireless communications provider’s stock after selling 22,840 shares during the quarter. Meeder Asset Management Inc.’s holdings in Telephone and Data Systems were worth $129,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in Telephone and Data Systems in the 4th quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in Telephone and Data Systems in the fourth quarter valued at approximately $74,000. Versant Capital Management Inc lifted its position in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 303 shares during the last quarter. Quarry LP grew its stake in 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 buying an additional 692 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after buying an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

Shares of NYSE TDS opened at $39.25 on Wednesday. The stock’s 50-day moving average is $36.60 and its 200 day moving average is $32.52. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -7.27 and a beta of 0.75. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. On average, sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -18.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 24th.

Telephone and Data Systems Company Profile

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.