Mirae Asset Global Investments Co. Ltd. Increases Stake in T-Mobile US, Inc. $TMUS

Key Points

• Mirae Asset Global Investments increased its stake in T-Mobile US by 6.1%, holding a total of 431,193 shares valued at approximately $102.7 million as of the end of Q2.
• Multiple analysts have upgraded their ratings on T-Mobile US, with Morgan Stanley raising its price target from $265 to $285, reflecting strong investment confidence.
• T-Mobile US is set to pay a quarterly dividend of $1.02 per share on December 11, 2023, marking an increase from the previous dividend of $0.88, which indicates positive growth for investors.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,193 shares of the Wireless communications provider's stock after buying an additional 24,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in T-Mobile US were worth $102,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Management Professionals Inc. grew its holdings in T-Mobile US by 15.6% in the first quarter. Financial Management Professionals Inc. now owns 303 shares of the Wireless communications provider's stock worth $81,000 after purchasing an additional 41 shares during the period. Hohimer Wealth Management LLC grew its holdings in T-Mobile US by 2.3% in the first quarter. Hohimer Wealth Management LLC now owns 1,800 shares of the Wireless communications provider's stock worth $480,000 after purchasing an additional 41 shares during the period. Journey Strategic Wealth LLC grew its holdings in T-Mobile US by 4.2% in the first quarter. Journey Strategic Wealth LLC now owns 1,022 shares of the Wireless communications provider's stock worth $273,000 after purchasing an additional 41 shares during the period. Angeles Wealth Management LLC grew its holdings in T-Mobile US by 1.2% in the first quarter. Angeles Wealth Management LLC now owns 3,328 shares of the Wireless communications provider's stock worth $888,000 after purchasing an additional 41 shares during the period. Finally, City Holding Co. grew its holdings in T-Mobile US by 45.3% in the first quarter. City Holding Co. now owns 138 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 42.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TMUS shares. Morgan Stanley upped their price objective on shares of T-Mobile US from $265.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America started coverage on shares of T-Mobile US in a report on Monday, July 7th. They issued a "neutral" rating and a $255.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of T-Mobile US in a report on Tuesday, September 2nd. They issued a "buy" rating and a $286.00 price objective on the stock. Arete Research upgraded shares of T-Mobile US to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Moffett Nathanson upped their price objective on shares of T-Mobile US from $210.00 to $230.00 and gave the stock a "neutral" rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.50.

Insiders Place Their Bets

In related news, Director Telekom Ag Deutsche sold 69,840 shares of the stock in a transaction that occurred on 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 transaction, the director owned 647,660,844 shares in the company, valued at $154,195,093,739.52. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,584,633 shares of company stock worth $623,559,263 in the last 90 days. 0.37% of the stock is owned by corporate insiders.

T-Mobile US Trading Down 1.3%

Shares of NASDAQ TMUS opened at $230.14 on Friday. The firm's 50 day moving average price is $244.83 and its 200-day moving average price is $244.31. The company has a market cap of $259.00 billion, a PE ratio of 21.71, a P/E/G ratio of 1.28 and a beta of 0.59. T-Mobile US, Inc. has a 52-week low of $206.18 and a 52-week high of $276.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.13 and a current ratio of 1.21.

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 the consensus estimate of $2.69 by $0.15. The firm had revenue of $21.13 billion for the quarter, compared to the consensus estimate of $20.99 billion. T-Mobile US had a net margin of 14.53% and a return on equity of 19.68%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.49 earnings per share. On average, equities research analysts expect that T-Mobile US, Inc. will post 10.37 EPS 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. Investors of record on Wednesday, November 26th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.8%. This is a positive change from T-Mobile US's previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, November 26th. T-Mobile US's payout ratio is currently 33.21%.

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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