PNC Financial Services Group Inc. Buys 86,398 Shares of T-Mobile US, Inc. $TMUS

Key Points

• PNC Financial Services Group increased its T-Mobile US stake by 23.8% in the first quarter, buying 86,398 additional shares and bringing its total holdings to 449,274 shares worth about $94.4 million.
• T-Mobile’s latest quarterly results beat expectations, with EPS of $2.27 on revenue of $23.11 billion, and revenue rose 10.6% year over year.
• Analyst sentiment remains broadly positive despite some price-target cuts: the stock has a Moderate Buy consensus with an average target price of $254.56, and T-Mobile also announced a quarterly dividend of $1.02 per share.

PNC Financial Services Group Inc. boosted its stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 449,274 shares of the Wireless communications provider's stock after purchasing an additional 86,398 shares during the quarter. PNC Financial Services Group Inc.'s holdings in T-Mobile US were worth $94,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMUS. CYBER HORNET ETFs LLC raised its holdings in shares of T-Mobile US by 3.8% during the third quarter. CYBER HORNET ETFs LLC now owns 1,319 shares of the Wireless communications provider's stock valued at $316,000 after purchasing an additional 48 shares during the period. Meeder Asset Management Inc. grew its stake in shares of T-Mobile US by 16.2% in the 4th quarter. Meeder Asset Management Inc. now owns 351 shares of the Wireless communications provider's stock valued at $71,000 after buying an additional 49 shares during the period. Wellspring Financial Advisors LLC grew its stake in shares of T-Mobile US by 4.3% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,273 shares of the Wireless communications provider's stock valued at $259,000 after buying an additional 52 shares during the period. Essex Financial Services Inc. increased its position in T-Mobile US by 3.5% in the 1st quarter. Essex Financial Services Inc. now owns 1,551 shares of the Wireless communications provider's stock valued at $326,000 after buying an additional 53 shares in the last quarter. Finally, Tcfg Wealth Management LLC increased its position in T-Mobile US by 5.6% in the 3rd quarter. Tcfg Wealth Management LLC now owns 999 shares of the Wireless communications provider's stock valued at $239,000 after buying an additional 53 shares in the last quarter. 42.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank cut their price target on T-Mobile US from $263.00 to $243.00 and set a "sector outperform" rating on the stock in a report on Wednesday, July 15th. Morgan Stanley decreased their price objective on T-Mobile US from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. Sanford C. Bernstein restated a "neutral" rating on shares of T-Mobile US in a report on Wednesday, April 22nd. Arete Research upped their target price on T-Mobile US from $295.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut T-Mobile US from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.56.

T-Mobile US Trading Up 0.1%

TMUS opened at $190.94 on Thursday. T-Mobile US, Inc. has a fifty-two week low of $165.66 and a fifty-two week high of $261.56. The firm has a market capitalization of $206.64 billion, a PE ratio of 20.31, a P/E/G ratio of 1.13 and a beta of 0.33. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.09 and a quick ratio of 0.97. The company's 50-day moving average is $184.99 and its 200 day moving average is $195.97.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.26. The business had revenue of $23.11 billion during the quarter, compared to the consensus estimate of $22.98 billion. T-Mobile US had a return on equity of 19.47% and a net margin of 11.65%.The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. As a group, research analysts predict that T-Mobile US, Inc. will post 10.53 earnings per share for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 28th. T-Mobile US's dividend payout ratio (DPR) is currently 43.40%.

Insider Activity at T-Mobile US

In related news, insider Andre Almeida purchased 5,097 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average cost of $196.18 per share, with a total value of $999,929.46. Following the transaction, the insider owned 44,850 shares of the company's stock, valued at $8,798,673. This represents a 12.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Katz sold 5,000 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $195.81, for a total value of $979,050.00. Following the transaction, the insider owned 181,930 shares in the company, valued at approximately $35,623,713.30. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.32% of the stock is owned by insiders.

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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