Telephone and Data Systems, Inc. (NYSE:TDS) Holdings Boosted by Cowen AND Company LLC

Cowen AND Company LLC raised its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 21.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 292,737 shares of the Wireless communications provider’s stock after purchasing an additional 52,679 shares during the quarter. Cowen AND Company LLC owned 0.26% of Telephone and Data Systems worth $6,068,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Telephone and Data Systems during the fourth quarter valued at approximately $25,000. Blue Trust Inc. increased its stake in shares of Telephone and Data Systems by 4,082.9% in the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after acquiring an additional 1,674 shares during the last quarter. Quarry LP purchased a new stake in shares of Telephone and Data Systems during the fourth quarter worth $60,000. CWM LLC boosted its position in Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Telephone and Data Systems in the second quarter valued at about $88,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price target on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th.

Telephone and Data Systems Stock Performance

TDS stock traded down $0.52 on Monday, reaching $22.51. 47,462 shares of the company were exchanged, compared to its average volume of 1,116,565. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.51 and a quick ratio of 1.37. Telephone and Data Systems, Inc. has a 12 month low of $13.69 and a 12 month high of $24.92. The stock’s fifty day moving average price is $21.33 and its 200 day moving average price is $18.75. The firm has a market capitalization of $2.54 billion, a PE ratio of -4.73 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.43 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, September 16th. Telephone and Data Systems’s dividend payout ratio is presently -3.29%.

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.