State of New Jersey Common Pension Fund D Decreases Holdings in T-Mobile US, Inc. (NASDAQ:TMUS)

State of New Jersey Common Pension Fund D lowered its holdings in T-Mobile US, Inc. (NASDAQ:TMUS) by 34.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 198,796 shares of the Wireless communications provider’s stock after selling 104,204 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in T-Mobile US were worth $35,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TMUS. WASHINGTON TRUST Co boosted its stake in T-Mobile US by 143.1% in the second quarter. WASHINGTON TRUST Co now owns 141 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 83 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of T-Mobile US in the 2nd quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of T-Mobile US in the 4th quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in T-Mobile US during the 2nd quarter worth approximately $30,000. Finally, Westside Investment Management Inc. increased its position in T-Mobile US by 75.8% during the first quarter. Westside Investment Management Inc. now owns 174 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 42.49% of the company’s stock.

T-Mobile US Price Performance

Shares of NASDAQ TMUS opened at $202.41 on Friday. The company’s fifty day moving average is $189.68 and its two-hundred day moving average is $174.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.78 and a current ratio of 0.84. The firm has a market capitalization of $237.19 billion, a P/E ratio of 27.54, a PEG ratio of 0.72 and a beta of 0.51. T-Mobile US, Inc. has a one year low of $135.82 and a one year high of $205.28.

T-Mobile US (NASDAQ:TMUS) last issued its earnings results on Wednesday, July 31st. The Wireless communications provider reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.22. T-Mobile US had a net margin of 11.95% and a return on equity of 14.88%. The company had revenue of $19.77 billion for the quarter, compared to analyst estimates of $19.61 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts forecast that T-Mobile US, Inc. will post 9.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TMUS shares. Tigress Financial raised their target price on shares of T-Mobile US from $205.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of T-Mobile US from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup upped their target price on shares of T-Mobile US from $184.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com raised T-Mobile US from a “hold” rating to a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on T-Mobile US from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, T-Mobile US has a consensus rating of “Buy” and a consensus price target of $201.44.

Insider Activity at T-Mobile US

In other T-Mobile US news, insider Michael J. Katz sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $177.59, for a total transaction of $532,770.00. Following the sale, the insider now directly owns 122,687 shares in the company, valued at $21,787,984.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other T-Mobile US news, insider Michael J. Katz sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $177.59, for a total value of $532,770.00. Following the sale, the insider now owns 122,687 shares of the company’s stock, valued at $21,787,984.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO G Michael Sievert sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $194.57, for a total transaction of $3,891,400.00. Following the transaction, the chief executive officer now directly owns 418,124 shares of the company’s stock, valued at $81,354,386.68. The disclosure for this sale can be found here. Insiders sold 973,797 shares of company stock valued at $178,105,011 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.

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.