Granite Bay Wealth Management LLC Raises Stock Position in T-Mobile US, Inc. (NASDAQ:TMUS)

Granite Bay Wealth Management LLC lifted its position in T-Mobile US, Inc. (NASDAQ:TMUS) by 46.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,368 shares of the Wireless communications provider’s stock after purchasing an additional 7,765 shares during the period. Granite Bay Wealth Management LLC’s holdings in T-Mobile US were worth $4,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. WASHINGTON TRUST Co raised its holdings in shares of 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 purchasing an additional 83 shares in the last quarter. Y.D. More Investments Ltd bought a new position in T-Mobile US in the second quarter worth approximately $27,000. Summit Securities Group LLC purchased a new stake in T-Mobile US during the second quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in T-Mobile US during the 2nd quarter valued at $30,000. Finally, Westside Investment Management Inc. increased its holdings 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 valued at $28,000 after acquiring an additional 75 shares during the period. Institutional investors own 42.49% of the company’s stock.

Insider Activity at T-Mobile US

In other news, insider Jon Freier sold 10,000 shares of T-Mobile US stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $29,577,154.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jon Freier sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 162,628 shares in the company, valued at approximately $29,577,154.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO G Michael Sievert sold 20,000 shares of T-Mobile US stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $194.57, for a total value of $3,891,400.00. Following the completion of the transaction, the chief executive officer now owns 418,124 shares of the company’s stock, valued at approximately $81,354,386.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,492 shares of company stock worth $59,546,006. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on T-Mobile US from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their price target on shares of T-Mobile US from $200.00 to $232.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley raised their price target on shares of T-Mobile US from $191.00 to $209.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Oppenheimer boosted their price objective on shares of T-Mobile US from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Evercore ISI raised their target price on shares of T-Mobile US from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Eighteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $214.36.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $206.36 on Tuesday. The company has a 50 day simple moving average of $194.93 and a two-hundred day simple moving average of $178.27. The stock has a market cap of $241.82 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.07 and a beta of 0.51. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 1.22. T-Mobile US, Inc. has a 12 month low of $135.82 and a 12 month high of $208.16.

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

T-Mobile US Increases Dividend

The business 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 annualized dividend and a yield of 1.71%. This is a positive change 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 dividend payout ratio (DPR) 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.