Corient Private Wealth LP Buys New Shares in T-Mobile US, Inc. $TMUS

Key Points

• Corient Private Wealth initiated a T-Mobile US position by purchasing 142,706 shares valued at approximately $23.9 million. Institutional investors and hedge funds collectively own 42.49% of the company.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $252.08, despite several firms recently lowering their targets.
• T-Mobile exceeded quarterly earnings expectations with adjusted EPS of $2.99 versus the $2.59 consensus, while revenue rose 7.9% year over year. The company also declared a quarterly dividend of $1.02 per share, equivalent to a 2.2% annual yield.

Corient Private Wealth LP bought a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 142,706 shares of the Wireless communications provider's stock, valued at approximately $23,936,000.

A number of other large investors have also bought and sold shares of TMUS. Lansforsakringar Fondforvaltning AB publ raised its holdings in T-Mobile US by 14.6% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 187,373 shares of the Wireless communications provider's stock worth $39,354,000 after purchasing an additional 23,836 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of T-Mobile US by 34.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 59,958 shares of the Wireless communications provider's stock valued at $12,593,000 after buying an additional 15,495 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of T-Mobile US by 16.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 98,469 shares of the Wireless communications provider's stock valued at $20,010,000 after buying an additional 14,110 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of T-Mobile US by 32.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 296,083 shares of the Wireless communications provider's stock worth $62,370,000 after buying an additional 72,922 shares during the last quarter. Finally, Entropy Technologies LP raised its stake in shares of T-Mobile US by 105.9% during the 4th quarter. Entropy Technologies LP now owns 36,117 shares of the Wireless communications provider's stock worth $7,333,000 after buying an additional 18,573 shares during the last quarter. 42.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Scotiabank lowered their price objective on shares of T-Mobile US from $263.00 to $243.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, July 15th. UBS Group cut their target price 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. Bank of America raised shares of T-Mobile US from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a report on Monday, July 6th. Wolfe Research reiterated a "peer perform" rating on shares of T-Mobile US in a research report on Friday, August 14th. Finally, Barclays dropped their price objective on shares of T-Mobile US from $230.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $252.08.

T-Mobile US Stock Up 2.0%

TMUS opened at $181.37 on Friday. The firm has a market cap of $194.55 billion, a P/E ratio of 18.99, a PEG ratio of 1.00 and a beta of 0.33. The business's fifty day simple moving average is $181.12 and its 200 day simple moving average is $193.35. T-Mobile US, Inc. has a 52 week low of $165.66 and a 52 week high of $258.66. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.48.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last announced its earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.40. The firm had revenue of $22.79 billion during the quarter, compared to the consensus estimate of $22.95 billion. T-Mobile US had a net margin of 11.45% and a return on equity of 20.16%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.84 EPS. As a group, equities research analysts anticipate that T-Mobile US, Inc. will post 10.73 EPS for the current fiscal year.

T-Mobile US Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 28th. T-Mobile US's payout ratio is currently 42.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source