Vestcor Inc Sells 10,979 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

Key Points

• Vestcor Inc reduced its stake in T-Mobile US by 7.8%, selling 10,979 shares during the first quarter, leaving it with 129,590 shares and making T-Mobile 1.2% of its portfolio.
• Analysts have raised their price targets for T-Mobile US, with Morgan Stanley increasing theirs from $265.00 to $285.00, indicating positive market outlook.
• T-Mobile US announced a quarterly dividend of $0.88 per share, set to be paid on September 11th, representing an annual yield of 1.47%.

Vestcor Inc reduced its stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,590 shares of the Wireless communications provider's stock after selling 10,979 shares during the period. T-Mobile US makes up about 1.2% of Vestcor Inc's investment portfolio, making the stock its 6th biggest holding. Vestcor Inc's holdings in T-Mobile US were worth $34,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TMUS. Geode Capital Management LLC grew its stake in shares of T-Mobile US by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 11,857,917 shares of the Wireless communications provider's stock valued at $2,610,542,000 after acquiring an additional 90,755 shares in the last quarter. Invesco Ltd. lifted its position in shares of T-Mobile US by 4.6% during the fourth quarter. Invesco Ltd. now owns 8,809,417 shares of the Wireless communications provider's stock worth $1,944,503,000 after purchasing an additional 384,956 shares during the last quarter. Capital International Investors lifted its position in shares of T-Mobile US by 36.2% during the fourth quarter. Capital International Investors now owns 6,525,744 shares of the Wireless communications provider's stock worth $1,440,424,000 after purchasing an additional 1,734,998 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of T-Mobile US by 85.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,025,096 shares of the Wireless communications provider's stock worth $1,329,919,000 after purchasing an additional 2,777,657 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of T-Mobile US by 13.8% during the fourth quarter. Northern Trust Corp now owns 5,325,541 shares of the Wireless communications provider's stock worth $1,175,507,000 after purchasing an additional 645,892 shares during the last quarter. 42.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T-Mobile US

In related news, Director Telekom Ag Deutsche sold 69,840 shares of the firm's 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 trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,555,330 shares of company stock worth $360,568,811 in the last quarter. 0.37% of the stock is owned by company insiders.

T-Mobile US Stock Performance

Shares of NASDAQ:TMUS traded down $3.17 during trading hours on Thursday, hitting $238.41. The stock had a trading volume of 4,075,941 shares, compared to its average volume of 3,976,442. The stock's fifty day simple moving average is $235.00 and its 200 day simple moving average is $245.15. T-Mobile US, Inc. has a 1-year low of $176.89 and a 1-year high of $276.49. The firm has a market capitalization of $268.31 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.32 and a beta of 0.62. 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 announced its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.69 by $0.15. T-Mobile US had a net margin of 14.53% and a return on equity of 19.68%. The company had revenue of $21.13 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the business earned $2.49 earnings per share. T-Mobile US's 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. T-Mobile US's dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Tigress Financial increased their price target on shares of T-Mobile US from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Scotiabank raised shares of T-Mobile US from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $275.00 to $277.50 in a research report on Wednesday, April 30th. Royal Bank Of Canada increased their price target on shares of T-Mobile US from $265.00 to $270.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Morgan Stanley raised their target price 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. Finally, Arete Research raised shares of T-Mobile US to a "strong-buy" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, T-Mobile US presently has an average rating of "Moderate Buy" and a consensus price target of $256.31.

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.