Summit Financial LLC Buys New Position in T-Mobile US, Inc. (NASDAQ:TMUS)

Summit Financial LLC purchased a new position in T-Mobile US, Inc. (NASDAQ:TMUS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,811 shares of the Wireless communications provider’s stock, valued at approximately $495,000.

Other large investors have also modified their holdings of the company. Sei Investments Co. increased its position 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 acquiring an additional 5,552 shares during the period. GSA Capital Partners LLP purchased a new position in shares of T-Mobile US in the first quarter worth about $1,908,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of T-Mobile US by 41.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,185 shares of the Wireless communications provider’s stock worth $2,595,000 after purchasing an additional 4,777 shares during the period. Cardinal Capital Management Inc. purchased a new stake in T-Mobile US in the fourth quarter valued at approximately $29,962,000. Finally, CFO4Life Group LLC acquired a new position in T-Mobile US in the 1st quarter worth approximately $932,000. Hedge funds and other institutional investors own 42.49% of the company’s stock.

Insider Activity

In related news, Director Raul Marcelo Claure sold 2,706 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $200.11, for a total transaction of $541,497.66. Following the completion of the sale, the director now directly owns 1,826,204 shares in the company, valued at $365,441,682.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Raul Marcelo Claure sold 2,706 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $200.11, for a total transaction of $541,497.66. Following the transaction, the director now directly owns 1,826,204 shares in the company, valued at $365,441,682.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 122,687 shares of the company’s stock, valued at approximately $21,787,984.33. The disclosure for this sale can be found here. Insiders have sold a total of 1,568,854 shares of company stock worth $281,624,519 over the last quarter. 0.67% of the stock is currently owned by corporate insiders.

T-Mobile US Trading Up 0.9 %

Shares of TMUS stock opened at $200.53 on Wednesday. The company has a market cap of $234.99 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.74 and a beta of 0.51. The stock has a 50 day simple moving average of $186.96 and a 200-day simple moving average of $173.36. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.84 and a quick ratio of 0.78. T-Mobile US, Inc. has a 1-year low of $132.40 and a 1-year high of $205.28.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings data on Wednesday, July 31st. The Wireless communications provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.22. The business had revenue of $19.77 billion for 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 company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, equities research analysts expect that T-Mobile US, Inc. will post 9.18 EPS for the current fiscal year.

T-Mobile US Announces Dividend

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

Wall Street Analysts Forecast Growth

TMUS has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of T-Mobile US in a research note on Monday, July 1st. They set a “buy” rating and a $200.00 price objective for the company. Benchmark raised their target price on shares of T-Mobile US from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI raised shares of T-Mobile US to a “hold” rating in a report on Thursday, August 1st. StockNews.com upgraded T-Mobile US from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen upped their target price on T-Mobile US from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $198.63.

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.