Bank of New York Mellon Corp Makes New Investment in T-Mobile US, Inc. $TMUS

Key Points

• Bank of New York Mellon initiated a sizable T-Mobile US position in the second quarter, purchasing 5.0 million shares valued at approximately $839.2 million, or 0.47% of the company.
• T-Mobile reported quarterly earnings of $2.99 per share, exceeding analyst expectations of $2.59, while revenue rose 7.9% year over year to $22.79 billion.
• The company declared a quarterly dividend of $1.02, equivalent to a 2.3% annualized yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $252.08 versus the stock’s reported price of $181.22.

Bank of New York Mellon Corp bought a new stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,003,243 shares of the Wireless communications provider's stock, valued at approximately $839,194,000. Bank of New York Mellon Corp owned 0.47% of T-Mobile US as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Sandro Wealth Management LLC bought a new stake in shares of T-Mobile US in the second quarter worth approximately $1,872,000. Focus Partners Advisor Solutions LLC bought a new stake in T-Mobile US in the 2nd quarter worth approximately $1,788,000. State of Wyoming bought a new stake in T-Mobile US in the 2nd quarter worth approximately $124,000. ABN AMRO Bank N.V. purchased a new stake in T-Mobile US during the 2nd quarter valued at $909,000. Finally, Summit Asset Management LLC purchased a new stake in T-Mobile US during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 42.49% of the company's stock.

T-Mobile US Price Performance

NASDAQ TMUS opened at $181.22 on Friday. The business's fifty day moving average is $181.54 and its 200 day moving average is $194.06. T-Mobile US, Inc. has a fifty-two week low of $165.66 and a fifty-two week high of $261.25. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 0.92. The company has a market capitalization of $194.39 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.03 and a beta of 0.33.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.40. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%.The business had revenue of $22.79 billion during the quarter, compared to analysts' expectations of $22.95 billion. During the same quarter in the prior year, the business posted $2.84 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that T-Mobile US, Inc. will post 10.73 earnings per share for the current year.

T-Mobile US Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 28th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 28th. T-Mobile US's dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on T-Mobile US from $230.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on T-Mobile US from $300.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Scotiabank dropped their target price on T-Mobile US from $263.00 to $243.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, July 15th. UBS Group reduced their price target on shares of T-Mobile US from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of T-Mobile US in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, T-Mobile US currently has an average rating of "Moderate Buy" and a consensus target price of $252.08.

T-Mobile US Profile

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.

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