Envestnet Asset Management Inc. Buys 112,979 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

Envestnet Asset Management Inc. grew its stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 12.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 996,703 shares of the Wireless communications provider’s stock after purchasing an additional 112,979 shares during the quarter. Envestnet Asset Management Inc.’s holdings in T-Mobile US were worth $175,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. WASHINGTON TRUST Co boosted its stake 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 worth $25,000 after purchasing an additional 83 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of T-Mobile US in the second quarter worth approximately $27,000. Y.D. More Investments Ltd purchased a new stake in shares of T-Mobile US during the second quarter valued at approximately $27,000. Westside Investment Management Inc. increased its position in shares of 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 valued at $28,000 after acquiring an additional 75 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in T-Mobile US in the 2nd quarter worth approximately $30,000. 42.49% of the stock is owned by hedge funds and other institutional investors.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $202.83 on Monday. The company has a market cap of $236.66 billion, a P/E ratio of 27.60, a P/E/G ratio of 0.74 and a beta of 0.51. T-Mobile US, Inc. has a 52-week low of $135.82 and a 52-week high of $205.28. 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’s fifty day moving average is $190.15 and its two-hundred day moving average is $175.32.

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

Insider Activity at T-Mobile US

In related news, Director Raul Marcelo Claure sold 2,706 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $200.11, for a total value of $541,497.66. Following the sale, the director now owns 1,826,204 shares in the company, valued at $365,441,682.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other T-Mobile US news, Director Raul Marcelo Claure sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $200.11, for a total transaction of $541,497.66. Following the sale, the director now directly owns 1,826,204 shares in the company, valued at $365,441,682.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Telekom Ag Deutsche sold 133,461 shares of T-Mobile US stock in a transaction on Monday, June 24th. The stock was sold at an average price of $178.04, for a total transaction of $23,761,396.44. Following the transaction, the director now directly owns 670,812,128 shares of the company’s stock, valued at $119,431,391,269.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 840,336 shares of company stock valued at $154,461,060. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TMUS shares. TD Cowen lifted their target price on T-Mobile US from $202.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T-Mobile US from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Evercore ISI raised T-Mobile US to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their target price on T-Mobile US from $184.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Tigress Financial raised their price objective on shares of T-Mobile US from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $201.44.

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.