T-Mobile US, Inc. $TMUS Stake Lifted by Truist Financial Corp

by · The Markets Daily

Truist Financial Corp lifted its stake in shares of T-Mobile US, Inc. (NASDAQ:TMUSFree Report) by 5.7% during the third quarter, Holdings Channel.com reports. The fund owned 521,266 shares of the Wireless communications provider’s stock after purchasing an additional 28,343 shares during the period. Truist Financial Corp’s holdings in T-Mobile US were worth $124,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TMUS. Vanguard Group Inc. increased its position in shares of T-Mobile US by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 42,160,882 shares of the Wireless communications provider’s stock valued at $10,045,252,000 after purchasing an additional 215,711 shares during the period. State Street Corp lifted its holdings in shares of T-Mobile US by 4.5% in the second quarter. State Street Corp now owns 23,141,316 shares of the Wireless communications provider’s stock valued at $5,513,650,000 after buying an additional 994,740 shares during the period. Franklin Resources Inc. boosted its stake in T-Mobile US by 5.2% during the second quarter. Franklin Resources Inc. now owns 6,298,934 shares of the Wireless communications provider’s stock valued at $1,500,784,000 after buying an additional 309,922 shares in the last quarter. Norges Bank acquired a new position in T-Mobile US during the second quarter worth about $1,477,780,000. Finally, Charles Schwab Investment Management Inc. raised its position in T-Mobile US by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,331,856 shares of the Wireless communications provider’s stock worth $793,848,000 after acquiring an additional 36,424 shares in the last quarter. 42.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of T-Mobile US from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wells Fargo & Company dropped their target price on shares of T-Mobile US from $260.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday. Scotiabank raised their target price on shares of T-Mobile US from $271.50 to $278.00 and gave the stock a “sector outperform” rating in a report on Monday, October 6th. The Goldman Sachs Group decreased their price target on shares of T-Mobile US from $287.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Finally, Zacks Research raised T-Mobile US from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.36.

Get Our Latest Stock Report on TMUS

Insider Activity

In other news, insider Michael J. Katz sold 2,500 shares of T-Mobile US stock in a transaction on Monday, November 17th. The stock was sold at an average price of $215.91, for a total transaction of $539,775.00. Following the transaction, the insider owned 156,203 shares in the company, valued at approximately $33,725,789.73. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director G Michael Sievert sold 22,500 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $216.97, for a total value of $4,881,825.00. Following the transaction, the director directly owned 308,696 shares in the company, valued at $66,977,771.12. The trade was a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,457 shares of company stock valued at $11,149,636 in the last 90 days. Company insiders own 0.37% of the company’s stock.

T-Mobile US Stock Performance

T-Mobile US stock opened at $186.25 on Thursday. The firm’s 50 day simple moving average is $198.43 and its 200-day simple moving average is $221.49. The company has a market cap of $208.32 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.02 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.80. T-Mobile US, Inc. has a fifty-two week low of $181.36 and a fifty-two week high of $276.49.

T-Mobile US Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, February 27th. T-Mobile US’s payout ratio is presently 39.23%.

About T-Mobile US

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TMUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T-Mobile US, Inc. (NASDAQ:TMUSFree Report).