Telephone and Data Systems, Inc. $TDS Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 1,663.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 26,439 shares of the Wireless communications provider’s stock after buying an additional 24,940 shares during the quarter. Fifth Third Bancorp’s holdings in Telephone and Data Systems were worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TDS. SG Americas Securities LLC raised its position in shares of Telephone and Data Systems by 343.6% in the fourth quarter. SG Americas Securities LLC now owns 39,597 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 30,670 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Telephone and Data Systems by 208.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 301,529 shares of the Wireless communications provider’s stock worth $12,363,000 after acquiring an additional 203,856 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Telephone and Data Systems by 225.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 24,790 shares of the Wireless communications provider’s stock worth $1,016,000 after purchasing an additional 17,172 shares in the last quarter. 140 Summer Partners LP lifted its stake in Telephone and Data Systems by 5.3% in the 4th quarter. 140 Summer Partners LP now owns 1,315,306 shares of the Wireless communications provider’s stock worth $53,928,000 after purchasing an additional 66,148 shares in the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Telephone and Data Systems by 186.7% during the 4th quarter. Horizon Investments LLC now owns 39,891 shares of the Wireless communications provider’s stock worth $1,636,000 after purchasing an additional 25,975 shares during the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TDS. Weiss Ratings downgraded Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Wall Street Zen raised 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 lowered 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.33.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $34.33 on Friday. Telephone and Data Systems, Inc. has a 52 week low of $33.01 and a 52 week high of $49.12. The business’s fifty day simple moving average is $37.70 and its 200-day simple moving average is $41.99. The firm has a market cap of $3.91 billion, a PE ratio of 64.77 and a beta of 0.30. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.98. The business 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 company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. Equities analysts forecast that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is 30.19%.

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.