Assenagon Asset Management S.A. Cuts Stock Position in Telephone and Data Systems, Inc. $TDS

Assenagon Asset Management S.A. cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 95.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,537 shares of the Wireless communications provider’s stock after selling 287,992 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Telephone and Data Systems were worth $570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake in shares of Telephone and Data Systems by 51.3% in the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after acquiring an additional 231 shares during the period. JPL Wealth Management LLC acquired a new position in Telephone and Data Systems during the third quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its position in Telephone and Data Systems by 2,779.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 1,084 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 861 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in Telephone and Data Systems in the fourth quarter valued at $91,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Down 2.7%

Shares of NYSE:TDS opened at $36.10 on Friday. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.11 billion, a P/E ratio of 68.11 and a beta of 0.30. Telephone and Data Systems, Inc. has a 52-week low of $34.94 and a 52-week high of $49.12. The stock’s fifty day simple moving average is $40.83 and its 200-day simple moving average is $42.62.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.98. The firm had revenue of $309.45 million during the quarter, compared to analysts’ expectations of $313.27 million. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. As a group, equities research analysts forecast that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.04 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.4%. Telephone and Data Systems’s payout ratio is 30.19%.

Analysts Set New Price Targets

Several analysts recently commented on TDS shares. Weiss Ratings cut shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.33.

Telephone and Data Systems Company 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.