State of Michigan Retirement System Sells 1,800 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

State of Michigan Retirement System trimmed its stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,241 shares of the Wireless communications provider’s stock after selling 1,800 shares during the period. State of Michigan Retirement System’s holdings in T-Mobile US were worth $24,884,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TMUS. Sei Investments Co. lifted its stake in shares of T-Mobile US by 3.1% in the 4th quarter. Sei Investments Co. now owns 184,478 shares of the Wireless communications provider’s stock valued at $29,574,000 after purchasing an additional 5,552 shares during the period. GSA Capital Partners LLP purchased a new position in T-Mobile US during the first quarter worth about $1,908,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of T-Mobile US by 41.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,185 shares of the Wireless communications provider’s stock worth $2,595,000 after buying an additional 4,777 shares during the last quarter. Cardinal Capital Management Inc. bought a new position in T-Mobile US in the 4th quarter valued at $29,962,000. Finally, CFO4Life Group LLC bought a new position in T-Mobile US during the first quarter valued at about $932,000. 42.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael J. Katz sold 3,000 shares of T-Mobile US stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $177.59, for a total transaction of $532,770.00. Following the completion of the transaction, the insider now directly owns 122,687 shares in the company, valued at $21,787,984.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other T-Mobile US news, insider Michael J. Katz sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $177.59, for a total transaction of $532,770.00. Following the transaction, the insider now owns 122,687 shares in the company, valued at approximately $21,787,984.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Freier sold 10,000 shares of T-Mobile US stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 162,628 shares of the company’s stock, valued at approximately $29,577,154.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,128,111 shares of company stock worth $376,531,896. 0.67% of the stock is currently owned by company insiders.

T-Mobile US Trading Up 0.9 %

Shares of TMUS opened at $200.43 on Tuesday. T-Mobile US, Inc. has a 1-year low of $132.40 and a 1-year high of $200.60. The firm has a market capitalization of $234.87 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 0.76 and a beta of 0.51. The firm’s 50-day moving average price is $184.17 and its 200-day moving average price is $171.71. The company has a current ratio of 0.84, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22.

T-Mobile US (NASDAQ:TMUS) last released its 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. The company had revenue of $19.77 billion during the quarter, compared to analysts’ expectations of $19.61 billion. T-Mobile US had a return on equity of 14.88% and a net margin of 11.95%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 EPS. Sell-side analysts anticipate that T-Mobile US, Inc. will post 9.05 EPS for the current year.

T-Mobile US Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, August 30th. T-Mobile US’s payout ratio is currently 35.37%.

Analyst Ratings Changes

A number of brokerages recently commented on TMUS. Tigress Financial upped their price target on shares of T-Mobile US from $205.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Scotiabank lifted their price target on T-Mobile US from $194.50 to $197.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 1st. Benchmark boosted their price objective on T-Mobile US from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays raised their target price on shares of T-Mobile US from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on shares of T-Mobile US in a report on Monday, July 1st. They issued a “buy” rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, T-Mobile US presently has a consensus rating of “Buy” and a consensus price target of $198.63.

About T-Mobile US

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.