Jessup Wealth Management Inc Reduces Stock Position in T-Mobile US, Inc. $TMUS

by · The Markets Daily

Jessup Wealth Management Inc reduced its holdings in shares of T-Mobile US, Inc. (NASDAQ:TMUS – Free Report) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,794 shares of the Wireless communications provider’s stock after selling 1,831 shares during the period. T-Mobile US accounts for 1.5% of Jessup Wealth Management Inc’s portfolio, making the stock its 23rd biggest position. Jessup Wealth Management Inc’s holdings in T-Mobile US were worth $3,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Nuveen LLC bought a new stake in shares of T-Mobile US in the 1st quarter worth about $618,248,000. Assenagon Asset Management S.A. raised its stake in T-Mobile US by 518.8% during the second 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 buying an additional 1,160,275 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in T-Mobile US by 14.3% during the 1st 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. Goldman Sachs Group Inc. grew its position in shares of T-Mobile US by 25.4% in 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 acquiring an additional 844,932 shares in the last quarter. Finally, Amundi increased its holdings in shares of T-Mobile US by 34.4% in the 1st quarter. Amundi now owns 3,176,925 shares of the Wireless communications provider’s stock valued at $851,066,000 after acquiring an additional 813,331 shares during the last quarter. Institutional investors and hedge funds own 42.49% of the company’s stock.

Analyst Ratings Changes

TMUS has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of T-Mobile US in a research note on Wednesday, October 8th. Barclays reduced their price target on shares of T-Mobile US from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Wells Fargo & Company raised shares of T-Mobile US from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $250.00 to $260.00 in a research report on Thursday, October 16th. TD Cowen dropped their price objective on shares of T-Mobile US from $291.00 to $263.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Finally, Moffett Nathanson lifted their target price on T-Mobile US from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, T-Mobile US currently has a consensus rating of “Moderate Buy” and an average target price of $266.63.

Get Our Latest Research Report on T-Mobile US

Insider Activity

In other news, Director Telekom Ag Deutsche sold 69,840 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $250.87, for a total transaction of $17,520,760.80. Following the transaction, the director directly owned 636,271,724 shares of the company’s stock, valued at approximately $159,621,487,399.88. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,322,741 shares of company stock valued at $556,959,972 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

T-Mobile US Trading Down 0.3%

T-Mobile US stock opened at $210.05 on Friday. T-Mobile US, Inc. has a 52-week low of $207.64 and a 52-week high of $276.49. The company has a quick ratio of 0.80, a current ratio of 0.89 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $234.94 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.51 and a beta of 0.59. The firm has a 50-day moving average price of $235.18 and a two-hundred day moving average price of $238.96.

T-Mobile US (NASDAQ:TMUS – Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The Wireless communications provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. T-Mobile US had a return on equity of 19.76% and a net margin of 13.83%.The company had revenue of $21.96 billion for the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts expect that T-Mobile US, Inc. will post 10.37 earnings per share for the current year.

T-Mobile US Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $1.02 per share. This is a boost from T-Mobile US’s previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, November 26th. This represents a $4.08 dividend on an annualized basis and a yield of 1.9%. T-Mobile US’s payout ratio is presently 39.23%.

About T-Mobile US

(Free Report)

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.

Further Reading

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