Corient Private Wealth LP Cuts Stock Position in T-Mobile US, Inc. $TMUS

Key Points

• Corient Private Wealth LP reduced its T-Mobile US position by 48% in the second quarter, selling 118,992 shares and retaining 129,048 shares valued at approximately $21.6 million.
• Other institutional investors increased exposure substantially, including California State Teachers Retirement System, BlackRock and Norges Bank; institutional investors collectively own 42.49% of T-Mobile US.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $252.08, despite several firms recently lowering their targets. T-Mobile exceeded quarterly EPS expectations, reporting $2.99 versus the $2.59 consensus estimate.

Corient Private Wealth LP cut its holdings in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 48.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,048 shares of the Wireless communications provider's stock after selling 118,992 shares during the quarter. Corient Private Wealth LP's holdings in T-Mobile US were worth $21,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TMUS. California State Teachers Retirement System grew its holdings in shares of T-Mobile US by 16,067.4% during the second quarter. California State Teachers Retirement System now owns 126,953,998 shares of the Wireless communications provider's stock worth $21,293,994,000 after buying an additional 126,168,750 shares during the last quarter. BlackRock Inc. purchased a new position in T-Mobile US in the second quarter worth $6,625,275,000. Norges Bank purchased a new position in shares of T-Mobile US in the 4th quarter valued at about $1,335,918,000. Bank of New York Mellon Corp acquired a new stake in shares of T-Mobile US during the 2nd quarter valued at approximately $839,194,000. Finally, Bank of America Corp DE acquired a new position in T-Mobile US during the second quarter worth $758,977,000. Hedge funds and other institutional investors own 42.49% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TMUS. Benchmark reduced their target price on T-Mobile US from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. Barclays lowered their target price on shares of T-Mobile US from $230.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of T-Mobile US in a research note on Friday. KeyCorp dropped their price objective on shares of T-Mobile US from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Friday, July 24th. Finally, Morgan Stanley dropped their target price on T-Mobile US from $260.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $252.08.

Insider Buying and Selling at T-Mobile US

In other news, CAO Daniel James Drobac sold 772 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $178.33, for a total transaction of $137,670.76. Following the completion of the sale, the chief accounting officer owned 35,118 shares in the company, valued at approximately $6,262,592.94. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $182.90 on Tuesday. T-Mobile US, Inc. has a 12-month low of $165.66 and a 12-month high of $244.24. The company has a market cap of $196.19 billion, a PE ratio of 19.15, a P/E/G ratio of 1.17 and a beta of 0.34. The stock has a 50 day simple moving average of $181.94 and a 200-day simple moving average of $190.74. 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 (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, beating analysts' consensus estimates 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 company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.84 earnings per share. On average, equities research analysts forecast that T-Mobile US, Inc. will post 10.82 EPS for the current year.

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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