Park Avenue Securities LLC Buys 2,622 Shares of T-Mobile US, Inc. $TMUS

Key Points

• Park Avenue Securities LLC increased its holdings in T-Mobile US by 7.6% in the second quarter, owning 37,195 shares valued at approximately $8.86 million.
• T-Mobile US reported quarterly earnings of $2.84 per share, surpassing analysts' expectations, with revenue of $21.13 billion, reflecting a year-over-year increase of 6.9%.
• The company plans to pay a dividend of $1.02 per share on December 11, 2023, which is an increase from the previous quarterly dividend of $0.88.

Park Avenue Securities LLC raised its holdings in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,195 shares of the Wireless communications provider's stock after acquiring an additional 2,622 shares during the quarter. Park Avenue Securities LLC's holdings in T-Mobile US were worth $8,862,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TMUS. GAMMA Investing LLC increased its position in T-Mobile US by 29,289.4% in the first quarter. GAMMA Investing LLC now owns 3,053,563 shares of the Wireless communications provider's stock worth $814,416,000 after purchasing an additional 3,043,173 shares during the period. Nuveen LLC acquired a new stake in T-Mobile US in the 1st quarter valued at approximately $618,248,000. Assenagon Asset Management S.A. lifted its stake in T-Mobile US by 518.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,383,922 shares of the Wireless communications provider's stock valued at $329,733,000 after acquiring an additional 1,160,275 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in T-Mobile US by 14.3% in the first quarter. Canada Pension Plan Investment Board now owns 6,889,126 shares of the Wireless communications provider's stock valued at $1,837,399,000 after purchasing an additional 864,030 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of T-Mobile US by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,172,644 shares of the Wireless communications provider's stock worth $1,112,886,000 after purchasing an additional 844,932 shares in the last quarter. Institutional investors and hedge funds own 42.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TMUS shares. Morgan Stanley lifted their target price on T-Mobile US from $265.00 to $285.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Rothschild & Co Redburn raised T-Mobile US from a "sell" rating to a "neutral" rating and set a $228.00 price target for the company in a research report on Monday, July 7th. Bank of America assumed coverage on T-Mobile US in a report on Monday, July 7th. They set a "neutral" rating and a $255.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on T-Mobile US from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Redburn Atlantic upgraded T-Mobile US from a "strong sell" rating to a "hold" rating and set a $228.00 price objective on the stock in a research note on Monday, July 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $258.02.

T-Mobile US Trading Down 0.3%

Shares of T-Mobile US stock traded down $0.62 during midday trading on Monday, reaching $237.55. 4,684,330 shares of the company's stock traded hands, compared to its average volume of 3,938,651. The stock has a 50 day moving average of $244.07 and a 200-day moving average of $245.35. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.13 and a current ratio of 1.21. The company has a market cap of $267.35 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.61. T-Mobile US, Inc. has a 12 month low of $198.69 and a 12 month high of $276.49.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $20.99 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, November 26th. This is an increase from T-Mobile US's previous quarterly dividend of $0.88. T-Mobile US's payout ratio is presently 33.21%.

Insider Transactions at T-Mobile US

In related news, Director Telekom Ag Deutsche sold 64,426 shares of T-Mobile US stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $239.18, for a total transaction of $15,409,410.68. Following the sale, the director owned 634,628,048 shares of the company's stock, valued at approximately $151,790,336,520.64. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 2,606,300 shares of company stock worth $627,710,011. 0.37% of the stock is currently owned by company insiders.

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.