Pinnacle Associates Ltd. Increases Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Pinnacle Associates Ltd. increased its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 468,809 shares of the Wireless communications provider’s stock after acquiring an additional 55,434 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Telephone and Data Systems were worth $10,900,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Telephone and Data Systems by 4,082.9% in the 2nd 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 bought a new position in Telephone and Data Systems in the 2nd quarter worth about $40,000. CWM LLC boosted its stake in Telephone and Data Systems by 57.0% in the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 1,430 shares during the period. Neo Ivy Capital Management bought a new position in Telephone and Data Systems in the 2nd quarter worth about $88,000. Finally, GAMMA Investing LLC boosted its stake in Telephone and Data Systems by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock worth $100,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 2.0 %

Shares of NYSE TDS opened at $29.62 on Thursday. Telephone and Data Systems, Inc. has a 52 week low of $13.69 and a 52 week high of $30.44. The business has a 50-day simple moving average of $24.30 and a two-hundred day simple moving average of $21.14. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.35 billion, a P/E ratio of -6.13 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. Research analysts anticipate that Telephone and Data Systems, Inc. will post -0.44 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 Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.04 per share. The ex-dividend date was Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.54%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.31%.

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.