Truist Financial Corp Has $85.43 Million Stake in T-Mobile US, Inc. (NASDAQ:TMUS)

Truist Financial Corp raised its position in T-Mobile US, Inc. (NASDAQ:TMUS) by 28.1% during the second quarter, Holdings Channel reports. The institutional investor owned 484,891 shares of the Wireless communications provider’s stock after buying an additional 106,489 shares during the quarter. Truist Financial Corp’s holdings in T-Mobile US were worth $85,428,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WASHINGTON TRUST Co boosted its position in T-Mobile US by 143.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 141 shares of the Wireless communications provider’s stock valued at $25,000 after buying an additional 83 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of T-Mobile US in the 2nd quarter worth $27,000. Y.D. More Investments Ltd bought a new position in shares of T-Mobile US in the 2nd quarter worth $27,000. Westside Investment Management Inc. boosted its position in shares of T-Mobile US by 75.8% in the 1st quarter. Westside Investment Management Inc. now owns 174 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of T-Mobile US in the 2nd quarter worth $30,000. 42.49% of the stock is currently owned by institutional investors.

Insider Activity at T-Mobile US

In related news, insider Jon Freier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $181.87, for a total transaction of $1,818,700.00. Following the completion of the transaction, the insider now directly owns 162,628 shares of the company’s stock, valued at $29,577,154.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jon Freier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $181.87, for a total transaction of $1,818,700.00. Following the completion of the transaction, the insider now directly owns 162,628 shares of the company’s stock, valued at $29,577,154.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deeanne King sold 15,437 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $190.00, for a total value of $2,933,030.00. Following the transaction, the executive vice president now directly owns 35,588 shares of the company’s stock, valued at $6,761,720. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,492 shares of company stock valued at $59,546,006. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America raised their price target on T-Mobile US from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Scotiabank raised their price target on T-Mobile US from $197.00 to $215.50 and gave the stock a “sector outperform” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on T-Mobile US from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. TD Cowen raised their price target on T-Mobile US from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on T-Mobile US from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Eighteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $214.36.

T-Mobile US Stock Down 0.1 %

NASDAQ:TMUS opened at $206.10 on Wednesday. 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 company has a market cap of $241.52 billion, a PE ratio of 28.04, a PEG ratio of 1.07 and a beta of 0.51. T-Mobile US, Inc. has a 52-week low of $135.82 and a 52-week high of $208.16. The stock has a 50-day simple moving average of $195.52 and a 200 day simple moving average of $178.59.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings data on Wednesday, July 31st. The Wireless communications provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.22. The business had revenue of $19.77 billion during the quarter, compared to the consensus estimate of $19.61 billion. T-Mobile US had a return on equity of 14.88% and a net margin of 11.95%. T-Mobile US’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. On average, sell-side analysts expect that T-Mobile US, Inc. will post 9.13 EPS for the current fiscal year.

T-Mobile US Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from T-Mobile US’s previous quarterly dividend of $0.65. This represents a $3.52 annualized dividend and a yield of 1.71%. T-Mobile US’s dividend payout ratio is 47.89%.

T-Mobile US 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.