Lazard Asset Management LLC Grows Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Lazard Asset Management LLC raised its stake in Telephone and Data Systems, Inc. (NYSE:TDSGet Rating) by 122.9% during the second quarter, HoldingsChannel reports. The fund owned 5,316 shares of the Wireless communications provider’s stock after buying an additional 2,931 shares during the period. Lazard Asset Management LLC’s holdings in Telephone and Data Systems were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in shares of Telephone and Data Systems by 172.2% in the second quarter. Advisors Asset Management Inc. now owns 243,563 shares of the Wireless communications provider’s stock worth $3,846,000 after acquiring an additional 154,088 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Telephone and Data Systems in the second quarter worth $612,000. Texas Permanent School Fund grew its stake in shares of Telephone and Data Systems by 1.8% in the second quarter. Texas Permanent School Fund now owns 71,327 shares of the Wireless communications provider’s stock worth $1,126,000 after acquiring an additional 1,288 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Telephone and Data Systems by 6.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 141,587 shares of the Wireless communications provider’s stock worth $2,236,000 after acquiring an additional 9,057 shares during the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Telephone and Data Systems by 2.8% in the second quarter. Private Management Group Inc. now owns 2,750,128 shares of the Wireless communications provider’s stock worth $43,425,000 after acquiring an additional 74,801 shares during the last quarter. 82.54% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Trading Up 2.3 %

Telephone and Data Systems stock opened at $10.34 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 1.30. Telephone and Data Systems, Inc. has a one year low of $9.81 and a one year high of $21.47. The stock has a market capitalization of $1.17 billion, a PE ratio of 25.22 and a beta of 1.08. The business’s fifty day moving average is $14.01 and its 200 day moving average is $15.57.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date is Wednesday, December 14th. Telephone and Data Systems’s dividend payout ratio is 175.61%.

Analyst Upgrades and Downgrades

TDS has been the topic of a number of recent research reports. StockNews.com cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 7th. Raymond James cut Telephone and Data Systems from a “strong-buy” rating to a “market perform” rating in a research report on Monday, November 7th. Finally, JPMorgan Chase & Co. raised Telephone and Data Systems from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $21.00 to $14.00 in a research report on Tuesday, November 8th.

About Telephone and Data Systems

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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, routers, 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.

See Also

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Institutional Ownership by Quarter for Telephone and Data Systems (NYSE:TDS)

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