4,524,993 Shares in T-Mobile US, Inc. $TMUS Acquired by Bank of America Corp DE

Bank of America Corp DE bought a new stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,524,993 shares of the Wireless communications provider's stock, valued at approximately $758,977,000. Bank of America Corp DE owned 0.42% of T-Mobile US as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMUS. BlackRock Inc. purchased a new stake in shares of T-Mobile US in the 2nd quarter valued at $6,625,275,000. Norges Bank purchased a new position in T-Mobile US during the 4th quarter valued at about $1,335,918,000. Bank of New York Mellon Corp purchased a new position in T-Mobile US during the 2nd quarter valued at about $839,194,000. Legal & General Group Plc acquired a new position in T-Mobile US in the 2nd quarter valued at about $583,675,000. Finally, Deutsche Bank AG acquired a new position in T-Mobile US in the 2nd quarter valued at about $349,928,000. Hedge funds and other institutional investors own 42.49% of the company's stock.

T-Mobile US Stock Down 1.3%

TMUS stock opened at $180.47 on Wednesday. The stock has a market cap of $193.58 billion, a P/E ratio of 18.90, a PEG ratio of 1.18 and a beta of 0.34. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.48. T-Mobile US, Inc. has a twelve month low of $165.66 and a twelve month high of $242.37. The company's 50 day moving average is $181.86 and its two-hundred day moving average is $190.47.

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. The company had revenue of $22.79 billion for the quarter, compared to analyst estimates of $22.95 billion. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%.The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 earnings per share. Research analysts expect that T-Mobile US, Inc. will post 10.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Daniel James Drobac sold 772 shares of the firm'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 value 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 trade represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

TMUS has been the topic of a number of research reports. Scotiabank reduced their target price on shares of T-Mobile US from $263.00 to $243.00 and set a "sector outperform" rating on the stock in a report on Wednesday, July 15th. Benchmark dropped 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 note on Friday, July 24th. KeyCorp dropped their price target on shares of T-Mobile US from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T-Mobile US in a research report on Friday. Finally, Bank of America upgraded T-Mobile US from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, T-Mobile US currently has a consensus rating of "Moderate Buy" and an average price target of $252.08.

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. Its offerings include postpaid and prepaid wireless plans, connected devices, smartphones, accessories and related communications services.

The company operates its consumer business primarily under the T-Mobile and Metro by T-Mobile brands. It also provides fixed wireless broadband, which uses its wireless network to deliver internet access to homes and businesses, as well as specialized connectivity services for connected devices and other applications.

T-Mobile US operates a nationwide wireless network, including a broad 5G network, and serves customers throughout the United States, including Puerto Rico and the U.S.

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