NewEdge Advisors LLC Reduces Position in T-Mobile US, Inc. $TMUS

Key Points

• NewEdge Advisors LLC reduced its stake in T-Mobile US, Inc. by 3.0%, owning 215,548 shares worth $57.49 million after selling 6,556 shares.
• T-Mobile reported earnings of $2.84 per share for the last quarter, beating estimates, and had a revenue of $21.13 billion, representing a 6.9% year-over-year increase.
• Insider selling has been significant, with company executives selling a total of 2,488,250 shares valued at approximately $593.25 million in the last three months.

NewEdge Advisors LLC lowered its stake in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,548 shares of the Wireless communications provider's stock after selling 6,556 shares during the period. NewEdge Advisors LLC's holdings in T-Mobile US were worth $57,489,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crestwood Advisors Group LLC raised its holdings in shares of T-Mobile US by 79.5% in the first quarter. Crestwood Advisors Group LLC now owns 1,635 shares of the Wireless communications provider's stock worth $436,000 after buying an additional 724 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of 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 worth $1,837,399,000 after buying an additional 864,030 shares during the last quarter. Advisor Resource Council purchased a new position in shares of T-Mobile US in the first quarter worth $463,000. Main Street Research LLC raised its holdings in shares of T-Mobile US by 1.0% during the first quarter. Main Street Research LLC now owns 177,902 shares of the Wireless communications provider's stock worth $47,448,000 after purchasing an additional 1,788 shares during the last quarter. Finally, Sawgrass Asset Management LLC purchased a new position in shares of T-Mobile US during the first quarter worth $6,543,000. Hedge funds and other institutional investors own 42.49% of the company's stock.

Insider Activity

In other news, insider Michael J. Katz sold 2,500 shares of T-Mobile US stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $251.12, for a total value of $627,800.00. Following the sale, the insider owned 158,703 shares in the company, valued at $39,853,497.36. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Telekom Ag Deutsche sold 69,840 shares of T-Mobile US stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $256.44, for a total transaction of $17,909,769.60. Following the completion of the sale, the director owned 635,433,644 shares in the company, valued at approximately $162,950,603,667.36. This trade represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,488,250 shares of company stock worth $593,252,506 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of T-Mobile US from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group assumed coverage on shares of T-Mobile US in a report on Tuesday, September 2nd. They set a "buy" rating and a $286.00 target price for the company. Wall Street Zen cut shares of T-Mobile US from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Rothschild & Co Redburn raised shares of T-Mobile US from a "sell" rating to a "neutral" rating and set a $228.00 target price for the company in a report on Monday, July 7th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, T-Mobile US currently has an average rating of "Moderate Buy" and an average price target of $258.02.

T-Mobile US Stock Performance

TMUS traded up $0.64 on Friday, reaching $252.76. The stock had a trading volume of 3,294,176 shares, compared to its average volume of 3,606,460. T-Mobile US, Inc. has a 12-month low of $192.61 and a 12-month high of $276.49. 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 business's 50-day moving average price is $243.02 and its two-hundred day moving average price is $247.37. The company has a market cap of $284.46 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $20.99 billion. During the same quarter in the previous year, the company earned $2.49 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that T-Mobile US, Inc. will post 10.37 earnings per share for the current year.

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.