Pinnacle Associates Ltd. Sells 1,647 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

Key Points

• Pinnacle Associates Ltd. reduced its stake in T-Mobile US by 7.3%, owning 20,921 shares worth $5.58 million after selling 1,647 shares in the first quarter.
• T-Mobile US reported earnings of $2.84 per share for the last quarter, surpassing analysts' expectations and showing a 6.9% year-over-year growth in revenue.
• The company announced a quarterly dividend of $0.88, set to be paid to shareholders on September 11, with an annualized yield of 1.45% based on current projections.

Pinnacle Associates Ltd. reduced its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,921 shares of the Wireless communications provider's stock after selling 1,647 shares during the quarter. Pinnacle Associates Ltd.'s holdings in T-Mobile US were worth $5,580,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Godsey & Gibb Inc. raised its holdings in shares of 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 acquiring an additional 60 shares in the last quarter. City Holding Co. boosted its position in T-Mobile US by 45.3% during the first quarter. City Holding Co. now owns 138 shares of the Wireless communications provider's stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Adirondack Trust Co. boosted its holdings in T-Mobile US by 366.7% in the first quarter. Adirondack Trust Co. now owns 140 shares of the Wireless communications provider's stock worth $37,000 after acquiring an additional 110 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in T-Mobile US in the fourth quarter worth about $39,000. Finally, Tsfg LLC purchased a new position in shares of T-Mobile US in the first quarter worth about $47,000. 42.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TMUS has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on T-Mobile US from $265.00 to $270.00 and gave the company a "sector perform" rating in a report on Friday. Bank of America assumed coverage on T-Mobile US in a research note on Monday, July 7th. They issued a "neutral" rating and a $255.00 price target on the stock. Rothschild & Co Redburn upgraded T-Mobile US from a "sell" rating to a "neutral" rating and set a $228.00 price objective on the stock in a report on Monday, July 7th. Arete Research raised T-Mobile US to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded T-Mobile US from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.31.

Insider Transactions at T-Mobile US

In other news, Director Telekom Ag Deutsche sold 69,840 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $238.08, for a total value of $16,627,507.20. Following the sale, the director directly owned 647,660,844 shares of the company's stock, valued at approximately $154,195,093,739.52. This represents a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 1,326,510 shares of company stock valued at $305,246,018. Corporate insiders own 0.37% of the company's stock.

T-Mobile US Stock Performance

NASDAQ TMUS traded down $5.42 during trading on Monday, reaching $238.14. The company's stock had a trading volume of 1,979,536 shares, compared to its average volume of 4,368,421. The company has a current ratio of 1.21, a quick ratio of 1.13 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $268.00 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.33 and a beta of 0.62. T-Mobile US, Inc. has a 12 month low of $173.74 and a 12 month high of $276.49. The firm has a 50 day moving average price of $235.19 and a 200 day moving average price of $244.86.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last issued its 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. The company had revenue of $21.13 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 EPS. As a group, equities analysts anticipate that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, August 29th. T-Mobile US's dividend payout ratio (DPR) is currently 33.21%.

T-Mobile US Company 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.