Pinnacle Associates Ltd. Reduces Holdings in T-Mobile US, Inc. $TMUS

Pinnacle Associates Ltd. decreased its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,508 shares of the Wireless communications provider’s stock after selling 4,151 shares during the quarter. Pinnacle Associates Ltd.’s holdings in T-Mobile US were worth $2,743,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC increased its holdings in shares of T-Mobile US by 3.8% in the third quarter. CYBER HORNET ETFs LLC now owns 1,319 shares of the Wireless communications provider’s stock valued at $316,000 after purchasing an additional 48 shares during the last quarter. Appleton Partners Inc. MA increased its holdings in shares of T-Mobile US by 5.3% in the third quarter. Appleton Partners Inc. MA now owns 971 shares of the Wireless communications provider’s stock valued at $232,000 after purchasing an additional 49 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in shares of T-Mobile US by 2.7% in the third quarter. MJP Associates Inc. ADV now owns 1,886 shares of the Wireless communications provider’s stock valued at $452,000 after purchasing an additional 49 shares during the last quarter. Tevis Investment Management increased its holdings in shares of T-Mobile US by 3.0% in the third quarter. Tevis Investment Management now owns 1,688 shares of the Wireless communications provider’s stock valued at $404,000 after purchasing an additional 49 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its holdings in shares of T-Mobile US by 0.6% in the third quarter. Meiji Yasuda Life Insurance Co now owns 8,094 shares of the Wireless communications provider’s stock valued at $1,938,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 42.49% of the company’s stock.

Analysts Set New Price Targets

TMUS has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of T-Mobile US in a research note on Wednesday, April 29th. Wolfe Research restated an “outperform” rating and issued a $255.00 price target on shares of T-Mobile US in a research note on Thursday, February 12th. Oppenheimer upgraded shares of T-Mobile US from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Wednesday, April 29th. Morgan Stanley initiated coverage on shares of T-Mobile US in a research note on Thursday, April 16th. They issued an “overweight” rating and a $260.00 price target on the stock. Finally, Arete Research upped their price target on shares of T-Mobile US from $295.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, T-Mobile US presently has an average rating of “Moderate Buy” and a consensus target price of $260.48.

Insider Activity at T-Mobile US

In other news, insider Mark Wolfe Nelson sold 2,329 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $222.38, for a total transaction of $517,923.02. Following the completion of the sale, the insider owned 65,677 shares of the company’s stock, valued at $14,605,251.26. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Katz sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $195.81, for a total transaction of $979,050.00. Following the sale, the insider directly owned 181,930 shares of the company’s stock, valued at approximately $35,623,713.30. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 149,134 shares of company stock worth $32,163,349. Corporate insiders own 0.37% of the company’s stock.

T-Mobile US Stock Down 1.6%

T-Mobile US stock opened at $185.22 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.97 and a current ratio of 1.09. T-Mobile US, Inc. has a 52-week low of $181.36 and a 52-week high of $261.56. The firm has a 50 day moving average price of $201.37 and a two-hundred day moving average price of $203.07. The firm has a market cap of $200.45 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.09 and a beta of 0.33.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.26. T-Mobile US had a net margin of 11.65% and a return on equity of 19.47%. The firm had revenue of $23.11 billion during the quarter, compared to analyst estimates of $22.98 billion. During the same quarter last year, the business earned $2.58 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that T-Mobile US, Inc. will post 10.65 EPS for the current year.

T-Mobile US Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.2%. T-Mobile US’s dividend payout ratio (DPR) is 43.40%.

T-Mobile US Company Profile

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.