Summit Global Investments Cuts Stock Position in T-Mobile US, Inc. (NASDAQ:TMUS)

Summit Global Investments trimmed its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 55.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,137 shares of the Wireless communications provider’s stock after selling 20,437 shares during the quarter. Summit Global Investments’ holdings in T-Mobile US were worth $2,587,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new position in shares of T-Mobile US in the third quarter worth about $26,000. Valley National Advisers Inc. boosted its stake in T-Mobile US by 232.1% in the 4th quarter. Valley National Advisers Inc. now owns 176 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 123 shares in the last quarter. Baker Avenue Asset Management LP grew its position in T-Mobile US by 63.3% during the 3rd quarter. Baker Avenue Asset Management LP now owns 209 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 81 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new stake in T-Mobile US during the 4th quarter valued at about $34,000. Finally, Raleigh Capital Management Inc. raised its holdings in T-Mobile US by 54.5% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the Wireless communications provider’s stock worth $36,000 after buying an additional 90 shares during the last quarter. Institutional investors own 42.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TMUS. TD Cowen decreased their price objective on shares of T-Mobile US from $204.00 to $202.00 and set a “buy” rating for the company in a report on Friday, April 26th. Royal Bank of Canada boosted their target price on T-Mobile US from $184.00 to $188.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of T-Mobile US in a report on Friday, January 26th. Tigress Financial lifted their price objective on T-Mobile US from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Morgan Stanley boosted their price target on T-Mobile US from $180.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, T-Mobile US has an average rating of “Buy” and a consensus price target of $186.33.

Insider Transactions at T-Mobile US

In other T-Mobile US news, Director Telekom Ag Deutsche sold 170,903 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $159.95, for a total transaction of $27,335,934.85. Following the transaction, the director now directly owns 680,306,713 shares in the company, valued at approximately $108,815,058,744.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Telekom Ag Deutsche sold 170,903 shares of T-Mobile US stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $159.95, for a total value of $27,335,934.85. Following the transaction, the director now directly owns 680,306,713 shares in the company, valued at approximately $108,815,058,744.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Katz sold 3,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $163.22, for a total value of $489,660.00. Following the sale, the insider now owns 125,687 shares of the company’s stock, valued at $20,514,632.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,359,509 shares of company stock valued at $1,033,407,661. 0.70% of the stock is currently owned by company insiders.

T-Mobile US Price Performance

Shares of NASDAQ TMUS traded down $0.31 during midday trading on Friday, reaching $164.60. The stock had a trading volume of 4,274,907 shares, compared to its average volume of 4,547,083. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.94. T-Mobile US, Inc. has a 12-month low of $124.92 and a 12-month high of $168.64. The stock has a 50-day moving average of $162.68 and a 200-day moving average of $157.61. The company has a market capitalization of $192.89 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.48.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings results on Thursday, April 25th. The Wireless communications provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.17. The business had revenue of $19.59 billion for the quarter, compared to analysts’ expectations of $19.81 billion. T-Mobile US had a return on equity of 13.61% and a net margin of 11.15%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. As a group, research analysts anticipate that T-Mobile US, Inc. will post 9.01 EPS for the current fiscal year.

T-Mobile US Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 31st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, May 31st. T-Mobile US’s dividend payout ratio is presently 35.37%.

T-Mobile US Profile

T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to customers in the postpaid, prepaid, and wholesale and other services. It also provides wireless devices, including smartphones, wearables, tablets, home broadband routers, and other mobile communication devices, as well as wireless devices and accessories; financing through equipment installment plans; reinsurance for device insurance policies and extended warranty contracts; leasing through JUMP! On Demand; and High Speed Internet services.