Independence Bank of Kentucky Purchases 1,722 Shares of T-Mobile US, Inc. $TMUS

Key Points

• Independence Bank of Kentucky increased its stake in T-Mobile US, acquiring an additional 1,722 shares and raising its total holdings by 21.0% to 9,933 shares, valued at approximately $2.37 million.
• T-Mobile reported better-than-expected earnings of $2.84 per share for the most recent quarter, exceeding estimates and achieving a revenue of $21.13 billion, up 6.9% year-over-year.
• The company announced a quarterly dividend increase to $1.02 per share, reflecting a boost from the previous $0.88 with an ex-dividend date set for November 26th.

Independence Bank of Kentucky grew its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,933 shares of the Wireless communications provider's stock after purchasing an additional 1,722 shares during the quarter. Independence Bank of Kentucky's holdings in T-Mobile US were worth $2,367,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TMUS. Nuveen LLC bought a new position in T-Mobile US during the 1st quarter worth approximately $618,248,000. Assenagon Asset Management S.A. raised its holdings in T-Mobile US by 518.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,383,922 shares of the Wireless communications provider's stock worth $329,733,000 after purchasing an additional 1,160,275 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of T-Mobile US by 14.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,889,126 shares of the Wireless communications provider's stock worth $1,837,399,000 after buying an additional 864,030 shares during the period. Goldman Sachs Group Inc. grew its position in shares of T-Mobile US by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,172,644 shares of the Wireless communications provider's stock worth $1,112,886,000 after buying an additional 844,932 shares during the period. Finally, Amundi grew its position in shares of T-Mobile US by 34.4% during the 1st quarter. Amundi now owns 3,176,925 shares of the Wireless communications provider's stock worth $851,066,000 after buying an additional 813,331 shares during the period. Institutional investors own 42.49% of the company's stock.

T-Mobile US Price Performance

Shares of TMUS opened at $237.47 on Monday. T-Mobile US, Inc. has a 12-month low of $202.77 and a 12-month high of $276.49. The business's fifty day moving average is $244.96 and its 200 day moving average is $244.76. The company has a quick ratio of 1.13, a current ratio of 1.21 and a debt-to-equity ratio of 1.33. The stock has a market cap of $267.25 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.30 and a beta of 0.61.

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, topping analysts' consensus estimates of $2.69 by $0.15. T-Mobile US had a return on equity of 19.68% and a net margin of 14.53%.The company had revenue of $21.13 billion for the quarter, compared to analysts' expectations of $20.99 billion. During the same period last year, the business earned $2.49 EPS. T-Mobile US's quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that T-Mobile US, Inc. will post 10.37 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $1.02 per share. This is a boost from T-Mobile US's previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, November 26th. This represents a $4.08 annualized dividend and a yield of 1.7%. 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 on Monday, July 7th. The stock was sold at an average price of $238.08, for a total transaction of $16,627,507.20. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 2,525,632 shares of company stock worth $609,403,041. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TMUS. JPMorgan Chase & Co. raised their price objective on shares of T-Mobile US from $270.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. KeyCorp reaffirmed an "underweight" rating and set a $200.00 price objective on shares of T-Mobile US in a research report on Wednesday, July 9th. Redburn Atlantic raised shares of T-Mobile US from a "strong sell" rating to a "hold" rating and set a $228.00 price objective for the company in a research report on Monday, July 7th. Morgan Stanley raised 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. Finally, The Goldman Sachs Group began coverage on shares of T-Mobile US in a research report on Tuesday, September 2nd. They set a "buy" rating and a $286.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, T-Mobile US has a consensus rating of "Moderate Buy" and an average price target of $258.02.

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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