Bank of Nova Scotia Reduces Holdings in T-Mobile US, Inc. (NASDAQ:TMUS)

Key Points

• Bank of Nova Scotia reduced its stake in T-Mobile US, Inc. by 76.3%, selling 166,331 shares and leaving it with 51,569 shares valued at approximately $13.75 million.
• Insider Callie R. Field sold 12,300 shares of T-Mobile US stock for about $2.96 million, while Jon Freier sold 7,000 shares for $1.75 million, indicating notable insider transactions.
• Analysts' ratings for T-Mobile US include one sell, thirteen hold, nine buy, and three strong buy, with an average target price set at $256.31.

Bank of Nova Scotia cut its stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 76.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,569 shares of the Wireless communications provider's stock after selling 166,331 shares during the period. Bank of Nova Scotia's holdings in T-Mobile US were worth $13,754,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TMUS. Crestwood Advisors Group LLC grew its holdings in T-Mobile US by 79.5% during the 1st quarter. Crestwood Advisors Group LLC now owns 1,635 shares of the Wireless communications provider's stock worth $436,000 after acquiring an additional 724 shares in the last quarter. Burling Wealth Partners LLC purchased a new stake in shares of T-Mobile US during the 4th quarter worth approximately $2,539,000. Advisor Resource Council purchased a new stake in shares of T-Mobile US during the 1st quarter worth approximately $463,000. Main Street Research LLC lifted its position in shares of T-Mobile US by 1.0% during the 1st quarter. Main Street Research LLC now owns 177,902 shares of the Wireless communications provider's stock worth $47,448,000 after buying an additional 1,788 shares during the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of T-Mobile US during the 1st quarter worth approximately $6,543,000. 42.49% of the stock is currently owned by institutional investors and hedge funds.

T-Mobile US Price Performance

Shares of NASDAQ:TMUS traded up $3.81 on Monday, reaching $241.01. 3,754,151 shares of the company were exchanged, compared to its average volume of 4,254,532. The company has a current ratio of 1.21, a quick ratio of 1.13 and a debt-to-equity ratio of 1.33. T-Mobile US, Inc. has a 1-year low of $185.39 and a 1-year high of $276.49. The firm has a market cap of $271.24 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62. The company has a 50-day moving average of $234.85 and a 200-day moving average of $245.89.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.69 by $0.15. T-Mobile US had a net margin of 14.53% and a return on equity of 19.68%. The business had revenue of $21.13 billion for the quarter, compared to analysts' expectations of $20.99 billion. During the same period in the prior year, the company posted $2.49 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts forecast that T-Mobile US, Inc. will post 10.37 earnings per share for the current fiscal year.

T-Mobile US Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 29th. T-Mobile US's dividend payout ratio (DPR) is 33.21%.

Insiders Place Their Bets

In other T-Mobile US news, Director Telekom Ag Deutsche sold 69,840 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $238.08, for a total transaction of $16,627,507.20. Following the completion of the transaction, the director directly owned 647,660,844 shares in the company, valued at approximately $154,195,093,739.52. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 1,555,330 shares of company stock worth $360,568,811. Company insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TMUS shares. Tigress Financial upped their price target on shares of T-Mobile US from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Rothschild & Co Redburn upgraded shares of T-Mobile US from a "sell" rating to a "neutral" rating and set a $228.00 price target for the company in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their price target on shares of T-Mobile US from $270.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Scotiabank upgraded shares of T-Mobile US from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $275.00 to $277.50 in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada upped their price target on shares of T-Mobile US from $265.00 to $270.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $256.31.

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.