Glenview Trust Co Invests $12.59 Million in T-Mobile US, Inc. $TMUS

Glenview Trust Co purchased a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 75,074 shares of the Wireless communications provider’s stock, valued at approximately $12,592,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMUS. BlackRock Inc. purchased a new stake in T-Mobile US in the 2nd quarter valued at $6,625,275,000. Norges Bank purchased a new position in T-Mobile US during the 4th quarter worth $1,335,918,000. Price T Rowe Associates Inc. MD increased its stake in T-Mobile US by 30.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,795,065 shares of the Wireless communications provider’s stock valued at $5,643,511,000 after purchasing an additional 6,516,968 shares during the period. Bank of New York Mellon Corp acquired a new position in T-Mobile US in the second quarter valued at $839,194,000. Finally, Bank of America Corp DE purchased a new stake in shares of T-Mobile US in the second quarter valued at about $758,977,000. Hedge funds and other institutional investors own 42.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TMUS shares. Morgan Stanley lowered their price target on T-Mobile US from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Benchmark reduced their price objective on T-Mobile US from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, July 24th. KeyCorp decreased their price objective on T-Mobile US from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of T-Mobile US from $300.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of T-Mobile US in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, T-Mobile US currently has a consensus rating of “Moderate Buy” and an average price target of $252.08.

T-Mobile US Stock Down 1.0%

TMUS stock opened at $177.75 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.92 and a quick ratio of 0.83. The company’s 50 day simple moving average is $181.13 and its 200-day simple moving average is $193.43. T-Mobile US, Inc. has a 12 month low of $165.66 and a 12 month high of $258.66. The firm has a market capitalization of $190.67 billion, a PE ratio of 18.61, a P/E/G ratio of 1.01 and a beta of 0.33.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.40. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%.The company had revenue of $22.79 billion during the quarter, compared to analysts’ expectations of $22.95 billion. During the same period in the previous year, the firm posted $2.84 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that T-Mobile US, Inc. will post 10.73 earnings per share for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.3%. T-Mobile US’s dividend payout ratio is currently 42.72%.

About T-Mobile US

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.