Summit Global Investments Cuts Stock Holdings in T-Mobile US, Inc. $TMUS

Summit Global Investments decreased its position in T-Mobile US, Inc. (NASDAQ:TMUS) by 40.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,606 shares of the Wireless communications provider’s stock after selling 3,071 shares during the quarter. Summit Global Investments’ holdings in T-Mobile US were worth $967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in T-Mobile US during the fourth quarter worth about $1,335,918,000. Price T Rowe Associates Inc. MD lifted its position in shares of T-Mobile US by 30.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,795,065 shares of the Wireless communications provider’s stock worth $5,643,511,000 after buying an additional 6,516,968 shares in the last quarter. Dodge & Cox boosted its stake in shares of T-Mobile US by 65.2% in the 4th quarter. Dodge & Cox now owns 6,185,972 shares of the Wireless communications provider’s stock worth $1,256,000,000 after buying an additional 2,442,450 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of T-Mobile US by 81.7% in the second quarter. Viking Global Investors LP now owns 2,845,316 shares of the Wireless communications provider’s stock valued at $677,925,000 after acquiring an additional 1,279,422 shares in the last quarter. Finally, Amundi grew its holdings in shares of T-Mobile US by 44.6% in the third quarter. Amundi now owns 4,109,084 shares of the Wireless communications provider’s stock valued at $924,380,000 after acquiring an additional 1,266,808 shares in the last quarter. Hedge funds and other institutional investors own 42.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank Of Canada dropped their price target on T-Mobile US from $240.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday. Barclays lowered their target price on T-Mobile US from $245.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of T-Mobile US from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Wall Street Zen upgraded shares of T-Mobile US from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, UBS Group lowered their price objective on shares of T-Mobile US from $300.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.56.

Insider Activity at T-Mobile US

In other T-Mobile US news, COO Jon Freier sold 4,799 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $190.00, for a total transaction of $911,810.00. Following the sale, the chief operating officer directly owned 217,168 shares of the company’s stock, valued at $41,261,920. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andre Almeida bought 5,097 shares of the business’s stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $196.18 per share, with a total value of $999,929.46. Following the transaction, the insider directly owned 44,850 shares of the company’s stock, valued at approximately $8,798,673. This trade represents a 12.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.32% of the stock is currently owned by company insiders.

T-Mobile US Stock Performance

NASDAQ:TMUS opened at $190.77 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.09 and a quick ratio of 0.97. The business has a fifty day simple moving average of $184.97 and a two-hundred day simple moving average of $196.06. T-Mobile US, Inc. has a 1 year low of $165.66 and a 1 year high of $261.56. The company has a market capitalization of $206.45 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.16 and a beta of 0.33.

T-Mobile US (NASDAQ:TMUS) last issued its quarterly earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. T-Mobile US had a return on equity of 19.47% and a net margin of 11.65%.The firm had revenue of $23.11 billion for the quarter, compared to analysts’ expectations of $22.98 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect that T-Mobile US, Inc. will post 10.53 earnings per share for the current year.

T-Mobile US Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 28th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 28th. T-Mobile US’s payout ratio is currently 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.