Telephone and Data Systems, Inc. (NYSE:TDS) Position Increased by Congress Asset Management Co.

Congress Asset Management Co. boosted its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 15.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,801 shares of the Wireless communications provider’s stock after purchasing an additional 28,671 shares during the quarter. Congress Asset Management Co. owned approximately 0.19% of Telephone and Data Systems worth $7,327,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Telephone and Data Systems by 26.8% during the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider’s stock worth $116,000 after acquiring an additional 1,056 shares during the last quarter. Creative Planning boosted its stake in Telephone and Data Systems by 8.1% during the 3rd quarter. Creative Planning now owns 13,301 shares of the Wireless communications provider’s stock valued at $309,000 after purchasing an additional 997 shares during the period. Everence Capital Management Inc. grew its position in Telephone and Data Systems by 7.3% in the 3rd quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider’s stock worth $299,000 after purchasing an additional 870 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Telephone and Data Systems in the third quarter valued at approximately $1,208,000. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Telephone and Data Systems by 13.4% during the third quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider’s stock valued at $10,900,000 after buying an additional 55,434 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Trading Up 3.0 %

Shares of NYSE:TDS opened at $39.52 on Monday. The company has a 50 day moving average of $35.07 and a 200-day moving average of $29.19. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.47 billion, a P/E ratio of -7.32 and a beta of 0.80. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $39.54.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 16th. Telephone and Data Systems’s payout ratio is currently -2.96%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th.

Telephone and Data Systems 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.