New Wave Wealth Advisors LLC purchased a new stake in T-Mobile US, Inc. (NASDAQ:TMUS – Free Report) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,553 shares of the Wireless communications provider’s stock, valued at approximately $700,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in T-Mobile US during the second quarter worth approximately $6,625,275,000. Bank of New York Mellon Corp acquired a new position in shares of T-Mobile US in the 2nd quarter valued at $839,194,000. Bank of America Corp DE acquired a new position in shares of T-Mobile US in the 2nd quarter valued at $758,977,000. Legal & General Group Plc acquired a new position in shares of T-Mobile US in the 2nd quarter valued at $583,675,000. Finally, Deutsche Bank AG purchased a new position in shares of T-Mobile US in the 2nd quarter valued at $349,928,000. 42.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TMUS has been the topic of several research analyst reports. Raymond James Financial upgraded shares of T-Mobile US from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Monday, October 12th. Benchmark reduced their price target on shares of T-Mobile US from $295.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Wolfe Research restated a “peer perform” rating on shares of T-Mobile US in a research note on Friday, August 14th. Morgan Stanley dropped their price objective on T-Mobile US from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. dropped their price objective on T-Mobile US from $275.00 to $260.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, T-Mobile US presently has a consensus rating of “Moderate Buy” and an average target price of $244.65.
Read Our Latest Analysis on T-Mobile US
T-Mobile US Stock Performance
NASDAQ:TMUS traded down $1.12 during trading hours on Monday, reaching $157.97. 1,925,381 shares of the company’s stock were exchanged, compared to its average volume of 5,633,942. The firm has a market capitalization of $169.46 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 0.99 and a beta of 0.33. The company has a 50-day moving average of $172.91 and a 200 day moving average of $182.19. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.48. T-Mobile US, Inc. has a 1-year low of $147.90 and a 1-year high of $230.54.
T-Mobile US (NASDAQ:TMUS – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.40. T-Mobile US had a net margin of 11.45% and a return on equity of 20.16%. The company had revenue of $22.79 billion for the quarter, compared to the consensus estimate of $22.95 billion. During the same period last year, the firm posted $2.84 EPS. T-Mobile US’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts anticipate that T-Mobile US, Inc. will post 11.17 EPS for the current year.
T-Mobile US Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be given a $1.17 dividend. This is a boost from T-Mobile US’s previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, November 25th. This represents a $4.68 annualized dividend and a yield of 3.0%. T-Mobile US’s payout ratio is presently 42.72%.
Insider Transactions at T-Mobile US
In other T-Mobile US news, CAO Daniel James Drobac sold 772 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $178.33, for a total transaction of $137,670.76. Following the completion of the sale, the chief accounting officer directly owned 35,118 shares of the company’s stock, valued at $6,262,592.94. This represents a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.
T-Mobile US Profile
T-Mobile US, Inc (NASDAQ: TMUS) is a wireless communications company that provides mobile voice, messaging and data services to consumers, businesses and government customers in the United States, Puerto Rico and the U.S. Virgin Islands. Its offerings include postpaid and prepaid wireless plans, connected devices, broadband internet and other communications services.
The company operates a nationwide wireless network, including 5G services, and sells smartphones, tablets, connected devices and related accessories through retail stores, online channels and third-party distributors.
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