T-Mobile US, Inc. (NASDAQ:TMUS) Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its position in T-Mobile US by 34.5%, selling 32,117 shares, leaving it with 60,865 shares worth approximately $16.23 million.
• T-Mobile US reported $2.84 EPS for the latest quarter, outperforming analysts' expectations of $2.69 and achieving a 6.9% year-over-year revenue growth with revenues of $21.13 billion.
• The company declared a quarterly dividend of $0.88 per share, with an annualized yield of 1.4%, reflecting a payout ratio of 33.21%.

Cresset Asset Management LLC lessened its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 34.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,865 shares of the Wireless communications provider's stock after selling 32,117 shares during the quarter. Cresset Asset Management LLC's holdings in T-Mobile US were worth $16,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Godsey & Gibb Inc. increased its position in T-Mobile US by 139.5% during the 1st quarter. Godsey & Gibb Inc. now owns 103 shares of the Wireless communications provider's stock worth $27,000 after purchasing an additional 60 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in T-Mobile US during the 1st quarter worth about $29,000. TCTC Holdings LLC increased its position in T-Mobile US by 208.1% during the 1st quarter. TCTC Holdings LLC now owns 114 shares of the Wireless communications provider's stock worth $30,000 after purchasing an additional 77 shares in the last quarter. Adirondack Trust Co. increased its position in T-Mobile US by 366.7% during the 1st quarter. Adirondack Trust Co. now owns 140 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 110 shares in the last quarter. Finally, City Holding Co. increased its position in T-Mobile US by 45.3% during the 1st quarter. City Holding Co. now owns 138 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 42.49% of the company's stock.

Wall Street Analyst Weigh In

TMUS has been the subject of a number of recent research reports. Arete Research upgraded T-Mobile US to a "strong-buy" rating in a research report on Tuesday, July 8th. Bank of America initiated coverage on T-Mobile US in a research report on Monday, July 7th. They set a "neutral" rating and a $255.00 price objective for the company. Redburn Atlantic upgraded 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. Tigress Financial lifted their price objective on T-Mobile US from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley lifted their price objective on T-Mobile US from $265.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, T-Mobile US presently has an average rating of "Moderate Buy" and an average target price of $256.31.

T-Mobile US Stock Up 1.7%

Shares of NASDAQ:TMUS opened at $254.63 on Friday. 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, Inc. has a 1 year low of $192.61 and a 1 year high of $276.49. The stock has a market capitalization of $286.57 billion, a P/E ratio of 24.02, a PEG ratio of 1.39 and a beta of 0.62. The stock has a 50-day simple moving average of $235.58 and a 200-day simple moving average of $247.33.

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 business had revenue of $21.13 billion during the quarter, compared to analysts' expectations of $20.99 billion. During the same quarter in the previous year, the business earned $2.49 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts forecast that T-Mobile US, Inc. will post 10.37 earnings per share for the current year.

T-Mobile US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $3.52 annualized dividend and a yield of 1.4%. T-Mobile US's payout ratio is 33.21%.

Insider Buying and Selling

In related news, Director Telekom Ag Deutsche sold 69,840 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $154,195,093,739.52. The trade was a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 1,974,370 shares of company stock worth $462,526,830. Insiders own 0.37% of the company's stock.

T-Mobile US Profile

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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