T-Mobile US, Inc. $TMUS Stake Decreased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its T-Mobile US stake by 95.1% in the third quarter, selling 1.78 million shares and retaining 92,713 shares valued at approximately $15.1 million.
• T-Mobile reported quarterly EPS of $2.99, beating estimates by $0.40, while revenue rose 7.9% year over year to $22.79 billion, slightly below expectations.
• The company increased its quarterly dividend from $1.02 to $1.17 per share, equivalent to $4.68 annually and a 3.0% yield; analysts maintained a “Moderate Buy” consensus despite reducing several price targets.

Assenagon Asset Management S.A. cut its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 95.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,713 shares of the Wireless communications provider's stock after selling 1,780,908 shares during the quarter. Assenagon Asset Management S.A.'s holdings in T-Mobile US were worth $15,120,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Main Street Group LTD acquired a new position in shares of T-Mobile US in the first quarter valued at $25,000. Paladin Partners LLC bought a new stake in T-Mobile US in the 2nd quarter valued at $25,000. Sachetta LLC increased its holdings in T-Mobile US by 52.9% in the 1st quarter. Sachetta LLC now owns 159 shares of the Wireless communications provider's stock valued at $33,000 after buying an additional 55 shares during the period. Dunhill Financial LLC acquired a new position in shares of T-Mobile US in the 2nd quarter valued at $27,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of T-Mobile US by 112.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 174 shares of the Wireless communications provider's stock valued at $34,000 after buying an additional 92 shares in the last quarter. 42.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T-Mobile US news, CAO Daniel James Drobac sold 772 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $178.33, for a total value of $137,670.76. Following the completion of the transaction, the chief accounting officer directly owned 35,118 shares of the company's stock, valued at approximately $6,262,592.94. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

T-Mobile US Stock Performance

Shares of NASDAQ:TMUS opened at $156.09 on Tuesday. T-Mobile US, Inc. has a twelve month low of $147.90 and a twelve month high of $230.54. The firm has a market cap of $167.43 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 0.92. The business has a fifty day moving average of $172.47 and a 200-day moving average of $181.81.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.40. The business had revenue of $22.79 billion during the quarter, compared to analysts' expectations of $22.95 billion. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 earnings per share. On average, equities research analysts predict that T-Mobile US, Inc. will post 11.17 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 10th. Shareholders of record on Wednesday, November 25th will be given a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, November 25th. This is a boost from T-Mobile US's previous quarterly dividend of $1.02. T-Mobile US's dividend payout ratio is 42.72%.

Analysts Set New Price Targets

A number of research firms have recently commented on TMUS. Barclays reduced their price objective on shares of T-Mobile US from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, September 29th. Wells Fargo & Company decreased their target price on shares of T-Mobile US from $170.00 to $169.00 and set an "equal weight" rating on the stock in a research report on Friday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of T-Mobile US in a research note on Friday, September 11th. Royal Bank Of Canada dropped their price target on shares of T-Mobile US from $240.00 to $230.00 and set an "outperform" rating for the company in a research report on Monday, July 20th. Finally, The Goldman Sachs Group dropped their price target on shares of T-Mobile US from $230.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $244.65.

About T-Mobile US

T-Mobile US, Inc NASDAQ: TMUS is a wireless communications company that provides mobile voice, messaging and data services to consumers, businesses and government customers in the United States, Puerto Rico and the U.S. Virgin Islands. Its offerings include postpaid and prepaid wireless plans, connected devices, broadband internet and other communications services.

The company operates a nationwide wireless network, including 5G services, and sells smartphones, tablets, connected devices and related accessories through retail stores, online channels and third-party distributors.

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