Redwood Investment Management LLC Sells 7,220 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Redwood Investment Management LLC lessened its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,629 shares of the Wireless communications provider’s stock after selling 7,220 shares during the quarter. Redwood Investment Management LLC’s holdings in Telephone and Data Systems were worth $465,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in Telephone and Data Systems in the 4th quarter valued at approximately $41,000. Federated Hermes Inc. bought a new position in Telephone and Data Systems in the 4th quarter valued at approximately $56,000. SBI Securities Co. Ltd. bought a new position in Telephone and Data Systems in the 4th quarter valued at approximately $74,000. Farther Finance Advisors LLC raised its holdings in 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 valued at $92,000 after buying an additional 1,156 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Telephone and Data Systems by 139.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 2,186 shares during the period. Institutional investors own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James reissued an “outperform” rating and set a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their target price on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $34.95 on Friday. The company has a market capitalization of $3.98 billion, a PE ratio of -6.47 and a beta of 0.57. The company has a 50 day simple moving average of $35.98 and a two-hundred day simple moving average of $34.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a fifty-two week low of $16.64 and a fifty-two week high of $41.21.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s dividend payout ratio (DPR) is -15.24%.

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.