Point72 Asset Management L.P. Has $18.28 Million Stock Holdings in Telephone & Data Systems, Inc. (NYSE:TDS)
Point72 Asset Management L.P. boosted its position in Telephone & Data Systems, Inc. (NYSE:TDS) by 4,568.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 718,924 shares of the Wireless communications provider’s stock after acquiring an additional 703,524 shares during the period. Point72 Asset Management L.P. owned 0.63% of Telephone & Data Systems worth $18,282,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Texas Permanent School Fund increased its holdings in Telephone & Data Systems by 0.7% in the fourth quarter. Texas Permanent School Fund now owns 66,898 shares of the Wireless communications provider’s stock valued at $1,701,000 after purchasing an additional 489 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Telephone & Data Systems by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 182,481 shares of the Wireless communications provider’s stock worth $4,640,000 after acquiring an additional 524 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Telephone & Data Systems by 0.4% in the third quarter. California State Teachers Retirement System now owns 166,704 shares of the Wireless communications provider’s stock worth $4,301,000 after acquiring an additional 710 shares in the last quarter. Comerica Bank increased its holdings in shares of Telephone & Data Systems by 1.3% in the fourth quarter. Comerica Bank now owns 57,792 shares of the Wireless communications provider’s stock worth $1,353,000 after acquiring an additional 723 shares in the last quarter. Finally, Bailard Inc. raised its position in shares of Telephone & Data Systems by 10.0% during the fourth quarter. Bailard Inc. now owns 8,800 shares of the Wireless communications provider’s stock worth $224,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 83.74% of the company’s stock.
Separately, Citigroup cut their price objective on Telephone & Data Systems from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $36.90.
Telephone & Data Systems (NYSE:TDS) last issued its quarterly earnings data on Thursday, February 20th. The Wireless communications provider reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Telephone & Data Systems had a net margin of 2.36% and a return on equity of 2.26%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. Equities analysts predict that Telephone & Data Systems, Inc. will post 0.9 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.17 dividend. This is an increase from Telephone & Data Systems’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 3.92%. Telephone & Data Systems’s dividend payout ratio (DPR) is currently 66.02%.
Telephone & Data Systems Company Profile
Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.
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