Granite Bay Wealth Management LLC Has $6.19 Million Position in T-Mobile US, Inc. $TMUS

Key Points

• Granite Bay Wealth Management LLC increased its position in T-Mobile US, Inc. by 9.0% during Q2, holding 25,980 shares valued at approximately $6.19 million.
• CEO G Michael Sievert sold 22,500 shares at an average price of $255.58, totaling about $5.75 million, which decreased his ownership by 5.90%.
• Analysts have mixed ratings on T-Mobile US, with an average of “Moderate Buy” and a consensus target price of $258.02, reflecting varying confidence in the stock's future performance.

Granite Bay Wealth Management LLC grew its holdings in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,980 shares of the Wireless communications provider's stock after purchasing an additional 2,135 shares during the quarter. T-Mobile US comprises 2.0% of Granite Bay Wealth Management LLC's portfolio, making the stock its 19th biggest holding. Granite Bay Wealth Management LLC's holdings in T-Mobile US were worth $6,190,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TMUS. Snowden Capital Advisors LLC grew its position in T-Mobile US by 0.6% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,394 shares of the Wireless communications provider's stock worth $1,411,000 after buying an additional 40 shares in the last quarter. Toronto Dominion Bank lifted its stake in T-Mobile US by 12.7% during the fourth quarter. Toronto Dominion Bank now owns 306,092 shares of the Wireless communications provider's stock worth $67,563,000 after purchasing an additional 34,508 shares during the period. Tang Capital Management LLC lifted its stake in T-Mobile US by 321.0% during the fourth quarter. Tang Capital Management LLC now owns 4,509 shares of the Wireless communications provider's stock worth $995,000 after purchasing an additional 3,438 shares during the period. Stonebrook Private Inc. bought a new position in T-Mobile US during the fourth quarter worth about $207,000. Finally, Texas Bank & Trust Co bought a new position in T-Mobile US during the fourth quarter worth about $263,000. 42.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T-Mobile US

In other T-Mobile US news, CEO G Michael Sievert sold 22,500 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $255.58, for a total value of $5,750,550.00. Following the transaction, the chief executive officer directly owned 358,722 shares of the company's stock, valued at $91,682,168.76. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Telekom Ag Deutsche sold 69,840 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $240.08, for a total transaction of $16,767,187.20. Following the completion of the transaction, the director directly owned 635,014,604 shares in the company, valued at approximately $152,454,306,128.32. This represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,558,090 shares of company stock worth $612,638,693. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. KeyCorp restated an "underweight" rating and set a $200.00 price target on shares of T-Mobile US in a research note on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of T-Mobile US from $265.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Bank of America started coverage on shares of T-Mobile US in a report on Monday, July 7th. They set a "neutral" rating and a $255.00 target price for the company. Rothschild & Co Redburn raised shares of T-Mobile US from a "sell" rating to a "neutral" rating and set a $228.00 target price for the company in a report on Monday, July 7th. Finally, Redburn Atlantic raised shares of T-Mobile US from a "strong sell" rating to a "hold" rating and set a $228.00 price target for the company in a report on Monday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $258.02.

T-Mobile US Trading Up 0.1%

T-Mobile US stock opened at $241.72 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.21 and a quick ratio of 1.13. The firm has a 50-day moving average of $243.25 and a 200-day moving average of $246.51. The company has a market cap of $272.04 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.33 and a beta of 0.61. T-Mobile US, Inc. has a one year low of $195.47 and a one year high of $276.49.

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

About T-Mobile US

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.

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