5 Dividend Stocks to Buy According to Hari Hariharan’s NWI Management

3. Telephone and Data Systems, Inc. (NYSE:TDS)

Number of Hedge Fund Holders: 12
Dividend Yield as of May 25: 4.00%
NWI Management’s Stake Value: $5,494,000

Telephone and Data Systems, Inc. (NYSE:TDS) is an American telecommunications services company that provides wireless products, cables, and broadband to consumers. In February, the company announced a 3% growth in its quarterly dividend to $0.18 per share. This marked the company’s 47^th consecutive year of dividend growth. The stock’s dividend yield came to be recorded at 4.00% on May 25.

NWI Management first invested in Telephone and Data Systems, Inc. (NYSE:TDS) during the fourth quarter of 2014, buying shares worth over $20.4 million. At the end of Q1 2022, the fund held shares worth over $5.4 million in the company, slashing its position by 2%. The company made up 0.62% of Hari Hariharan’s portfolio. In April, Morgan Stanley set a $22 price target on Telephone and Data Systems, Inc. (NYSE:TDS), with an Equal Weight rating on the shares.

As per Insider Monkey’s Q1 2022 database, the number of hedge funds holding stakes in Telephone and Data Systems, Inc. (NYSE:TDS) declined to 12, from 20 in the previous quarter. These stakes hold a consolidated value of over $53.3 million. Among these hedge funds, GAMCO Investors held the largest position in the company, with stakes valued at over $32.7 million.