Elevation Point Wealth Partners LLC Trims Stock Holdings in T-Mobile US, Inc. (NASDAQ:TMUS)

Elevation Point Wealth Partners LLC reduced its stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,528 shares of the Wireless communications provider’s stock after selling 488 shares during the period. Elevation Point Wealth Partners LLC’s holdings in T-Mobile US were worth $3,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMUS. Tallon Kerry Patrick purchased a new stake in T-Mobile US in the 4th quarter valued at about $2,138,000. Essex Financial Services Inc. grew its position in T-Mobile US by 7.8% in the 4th quarter. Essex Financial Services Inc. now owns 1,603 shares of the Wireless communications provider’s stock valued at $354,000 after acquiring an additional 116 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in T-Mobile US in the 4th quarter valued at about $1,552,000. Avidian Wealth Enterprises LLC grew its position in T-Mobile US by 5.7% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,277 shares of the Wireless communications provider’s stock valued at $282,000 after acquiring an additional 69 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in T-Mobile US by 3.1% in the 4th quarter. Van ECK Associates Corp now owns 20,855 shares of the Wireless communications provider’s stock valued at $4,603,000 after acquiring an additional 625 shares in the last quarter. 42.49% of the stock is currently owned by hedge funds and other institutional investors.

T-Mobile US Stock Performance

Shares of TMUS opened at $228.00 on Friday. The stock has a 50 day moving average price of $246.27 and a 200 day moving average price of $243.85. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $258.88 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.64. T-Mobile US, Inc. has a 52-week low of $173.74 and a 52-week high of $276.49.

T-Mobile US (NASDAQ:TMUS) last announced its quarterly earnings results on Thursday, April 24th. The Wireless communications provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.10. The firm had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.67 billion. T-Mobile US had a return on equity of 18.09% and a net margin of 13.93%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. Research analysts predict that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, August 29th. T-Mobile US’s dividend payout ratio (DPR) is 34.34%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank raised T-Mobile US from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $275.00 to $277.50 in a research report on Wednesday, April 30th. Tigress Financial lifted their target price on T-Mobile US from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Citigroup downgraded T-Mobile US from a “buy” rating to a “neutral” rating and set a $268.00 target price for the company. in a research report on Friday, March 14th. Royal Bank of Canada boosted their price objective on T-Mobile US from $245.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of T-Mobile US from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, T-Mobile US has an average rating of “Moderate Buy” and a consensus target price of $257.68.

T-Mobile US Company 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.