NewEdge Wealth LLC Invests $927,000 in T-Mobile US, Inc. $TMUS

Key Points

• NewEdge Wealth acquired 5,526 T-Mobile US shares worth approximately $927,000 in the second quarter. Institutional investors and hedge funds collectively own 42.49% of the company.
• T-Mobile reported quarterly EPS of $2.99, beating estimates by $0.40, while revenue rose 7.9% year over year to $22.79 billion, slightly below expectations.
• The company declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with a $252.08 price target.

NewEdge Wealth LLC acquired a new stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,526 shares of the Wireless communications provider's stock, valued at approximately $927,000.

Other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC boosted its position in T-Mobile US by 3.8% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 1,319 shares of the Wireless communications provider's stock valued at $316,000 after buying an additional 48 shares during the period. Meeder Asset Management Inc. increased its position in shares of T-Mobile US by 16.2% during the fourth quarter. Meeder Asset Management Inc. now owns 351 shares of the Wireless communications provider's stock worth $71,000 after acquiring an additional 49 shares during the period. Wellspring Financial Advisors LLC increased its position in shares of T-Mobile US by 4.3% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,273 shares of the Wireless communications provider's stock worth $259,000 after acquiring an additional 52 shares during the period. Essex Financial Services Inc. raised its stake in shares of T-Mobile US by 3.5% in the first quarter. Essex Financial Services Inc. now owns 1,551 shares of the Wireless communications provider's stock valued at $326,000 after acquiring an additional 53 shares in the last quarter. Finally, Tcfg Wealth Management LLC raised its stake in shares of T-Mobile US by 5.6% in the third quarter. Tcfg Wealth Management LLC now owns 999 shares of the Wireless communications provider's stock valued at $239,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 42.49% of the company's stock.

T-Mobile US Stock Up 1.0%

Shares of NASDAQ TMUS opened at $183.04 on Friday. The business has a 50-day moving average of $181.42 and a two-hundred day moving average of $193.98. The company has a market capitalization of $196.34 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.02 and a beta of 0.33. T-Mobile US, Inc. has a 1 year low of $165.66 and a 1 year high of $261.25. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.92 and a quick ratio of 0.83.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $22.79 billion for the quarter, compared to the consensus estimate of $22.95 billion. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%.The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.84 EPS. On average, analysts forecast that T-Mobile US, Inc. will post 10.73 earnings per share for the current fiscal year.

T-Mobile US Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $4.08 dividend on an annualized basis and a yield of 2.2%. T-Mobile US's dividend payout ratio (DPR) is presently 42.72%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TMUS shares. Morgan Stanley lowered their target price on T-Mobile US from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Wolfe Research reaffirmed a "peer perform" rating on shares of T-Mobile US in a research report on Friday, August 14th. TD Cowen decreased their price objective on T-Mobile US from $261.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Royal Bank Of Canada lowered their price objective on T-Mobile US from $240.00 to $230.00 and set an "outperform" rating for the company in a research report on Monday, July 20th. Finally, Oppenheimer upgraded shares of T-Mobile US from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $252.08.

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.

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