Gabelli Funds LLC Decreases Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Gabelli Funds LLC trimmed its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 6.8% in the 2nd quarter, Holdings Channel reports. The firm owned 1,867,300 shares of the Wireless communications provider’s stock after selling 137,300 shares during the period. Gabelli Funds LLC’s holdings in Telephone and Data Systems were worth $38,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TDS. Victory Capital Management Inc. boosted its position in shares of Telephone and Data Systems by 1.4% in the second quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider’s stock worth $861,000 after purchasing an additional 554 shares during the period. GAMMA Investing LLC boosted its position in shares of Telephone and Data Systems by 13.8% in the second 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. Quadrant Capital Group LLC boosted its position in shares of Telephone and Data Systems by 14.0% in the fourth quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock worth $93,000 after purchasing an additional 622 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Telephone and Data Systems by 14.0% in the second quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 630 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Telephone and Data Systems by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 49,600 shares of the Wireless communications provider’s stock worth $1,028,000 after purchasing an additional 800 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $22.97 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.51. The firm has a fifty day moving average price of $21.84 and a 200 day moving average price of $19.29. Telephone and Data Systems, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $24.92. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -4.72 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) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Telephone and Data Systems’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.43 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.70%. Telephone and Data Systems’s dividend payout ratio is -3.29%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price target on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th.

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.