Congress Asset Management Co. Sells 2,375 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Congress Asset Management Co. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,130 shares of the Wireless communications provider’s stock after selling 2,375 shares during the quarter. Congress Asset Management Co. owned about 0.16% of Telephone and Data Systems worth $4,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Telephone and Data Systems by 26.1% during the 1st quarter. BNP Paribas Financial Markets now owns 86,106 shares of the Wireless communications provider’s stock worth $1,379,000 after buying an additional 17,825 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Telephone and Data Systems in the first quarter worth about $423,000. Texas Permanent School Fund Corp increased its stake in shares of Telephone and Data Systems by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 86,276 shares of the Wireless communications provider’s stock worth $1,382,000 after purchasing an additional 1,154 shares during the period. VitalStone Financial LLC acquired a new position in shares of Telephone and Data Systems during the 1st quarter worth about $340,000. Finally, Quantbot Technologies LP boosted its stake in Telephone and Data Systems by 104.6% during the 1st quarter. Quantbot Technologies LP now owns 25,421 shares of the Wireless communications provider’s stock valued at $407,000 after purchasing an additional 12,999 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Trading Down 7.6 %

Shares of Telephone and Data Systems stock opened at $27.48 on Friday. Telephone and Data Systems, Inc. has a 1 year low of $13.69 and a 1 year high of $30.44. The company’s fifty day simple moving average is $24.58 and its 200-day simple moving average is $21.28. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -5.69 and a beta of 0.81. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned ($0.17) earnings per share. As a group, sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.44 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Monday, September 16th. Telephone and Data Systems’s payout ratio 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.