T-Mobile US, Inc. $TMUS Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System trimmed its T-Mobile US stake by 2.3% in the first quarter, selling 8,952 shares and leaving it with 381,462 shares worth about $80.1 million.
• Insider activity was mixed: Andre Almeida bought 5,097 shares, while Michael J. Katz sold 5,000 shares on the same day, with insiders overall owning just 0.32% of the company.
• Analysts remain constructive on TMUS, with a consensus rating of “Moderate Buy” and an average price target of $260.27, well above the stock’s recent price of $177.52.

New York State Teachers Retirement System reduced its stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 381,462 shares of the Wireless communications provider's stock after selling 8,952 shares during the period. New York State Teachers Retirement System's holdings in T-Mobile US were worth $80,118,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Sei Investments Co. boosted its stake in T-Mobile US by 6.3% during the 2nd quarter. Sei Investments Co. now owns 142,587 shares of the Wireless communications provider's stock valued at $33,972,000 after purchasing an additional 8,491 shares during the period. Diversify Advisory Services LLC grew its position in T-Mobile US by 315.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 4,548 shares of the Wireless communications provider's stock worth $1,147,000 after purchasing an additional 3,454 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of T-Mobile US in the second quarter valued at approximately $375,000. Raymond James Financial Inc. increased its stake in shares of T-Mobile US by 0.5% in the second quarter. Raymond James Financial Inc. now owns 2,054,144 shares of the Wireless communications provider's stock valued at $489,420,000 after purchasing an additional 9,568 shares during the period. Finally, Viking Global Investors LP raised its holdings in shares of T-Mobile US by 81.7% during the second quarter. Viking Global Investors LP now owns 2,845,316 shares of the Wireless communications provider's stock valued at $677,925,000 after buying an additional 1,279,422 shares during the last quarter. Institutional investors own 42.49% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

TMUS has been the subject of a number of recent analyst reports. KeyCorp raised T-Mobile US from a "sector weight" rating to an "overweight" rating and set a $260.00 price objective for the company in a report on Monday, April 13th. DZ Bank restated a "buy" rating on shares of T-Mobile US in a research note on Wednesday, May 6th. Morgan Stanley assumed coverage on shares of T-Mobile US in a report on Thursday, April 16th. They issued an "overweight" rating and a $260.00 price objective for the company. TD Cowen increased their target price on shares of T-Mobile US from $252.00 to $261.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Scotiabank dropped their price target on shares of T-Mobile US from $266.00 to $263.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, T-Mobile US presently has an average rating of "Moderate Buy" and a consensus target price of $260.27.

T-Mobile US Price Performance

Shares of NASDAQ:TMUS opened at $177.52 on Friday. The company's fifty day moving average is $186.32 and its two-hundred day moving average is $197.22. The company has a market cap of $192.11 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. T-Mobile US, Inc. has a 12-month low of $165.66 and a 12-month high of $261.56. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.58.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.26. The business had revenue of $23.11 billion for 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%.T-Mobile US's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. Equities analysts expect that T-Mobile US, Inc. will post 10.65 earnings per share for the current fiscal year.

T-Mobile US Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 28th. T-Mobile US's dividend payout ratio is 43.40%.

T-Mobile US Company 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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