Pinnacle Associates Ltd. Purchases 737 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

Pinnacle Associates Ltd. lifted its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,494 shares of the Wireless communications provider’s stock after acquiring an additional 737 shares during the quarter. Pinnacle Associates Ltd.’s holdings in T-Mobile US were worth $5,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of T-Mobile US by 21,580.9% during the third quarter. International Assets Investment Management LLC now owns 249,981 shares of the Wireless communications provider’s stock worth $51,586,000 after acquiring an additional 248,828 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of T-Mobile US during the first quarter worth $1,908,000. CFO4Life Group LLC acquired a new stake in shares of T-Mobile US during the first quarter worth $932,000. NewEdge Advisors LLC grew its stake in shares of T-Mobile US by 13.6% during the second quarter. NewEdge Advisors LLC now owns 211,059 shares of the Wireless communications provider’s stock worth $37,184,000 after purchasing an additional 25,217 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of T-Mobile US by 26.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,438 shares of the Wireless communications provider’s stock worth $3,336,000 after purchasing an additional 4,253 shares during the period. Institutional investors own 42.49% of the company’s stock.

Insider Buying and Selling

In related news, EVP Deeanne King sold 15,437 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $190.00, for a total transaction of $2,933,030.00. Following the transaction, the executive vice president now directly owns 35,588 shares in the company, valued at approximately $6,761,720. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T-Mobile US news, EVP Deeanne King sold 15,437 shares of the company’s stock in a transaction 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 in the company, valued at $6,761,720. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Katz sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $205.30, for a total transaction of $615,900.00. Following the completion of the transaction, the insider now owns 119,687 shares in the company, valued at approximately $24,571,741.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,261 shares of company stock worth $72,263,430. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

TMUS has been the subject of a number of analyst reports. Raymond James cut T-Mobile US from an “outperform” rating to a “market perform” rating in a research note on Friday, October 25th. Benchmark lifted their price objective on T-Mobile US from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on T-Mobile US from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley boosted their target price on T-Mobile US from $209.00 to $239.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Barclays raised their price target on T-Mobile US from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, T-Mobile US presently has an average rating of “Moderate Buy” and a consensus price target of $241.83.

T-Mobile US Price Performance

NASDAQ TMUS opened at $223.16 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 1.22. T-Mobile US, Inc. has a 12-month low of $141.29 and a 12-month high of $234.56. The company has a market capitalization of $261.51 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.15 and a beta of 0.51. The firm’s 50 day moving average is $208.40 and its 200-day moving average is $187.02.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.29. The company had revenue of $20.16 billion for the quarter, compared to the consensus estimate of $20.01 billion. T-Mobile US had a net margin of 11.95% and a return on equity of 14.88%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. Equities research analysts anticipate that T-Mobile US, Inc. will post 9.22 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.58%. This is an increase from T-Mobile US’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, November 27th. T-Mobile US’s payout ratio is presently 47.89%.

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.