California Public Employees Retirement System Cuts Stock Holdings in T-Mobile US, Inc. (NASDAQ:TMUS)

California Public Employees Retirement System trimmed its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,185,274 shares of the Wireless communications provider’s stock after selling 46,456 shares during the period. California Public Employees Retirement System’s holdings in T-Mobile US were worth $482,356,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in T-Mobile US during the fourth quarter worth approximately $1,802,393,000. Raymond James Financial Inc. acquired a new position in shares of T-Mobile US during the 4th quarter valued at $452,721,000. Barclays PLC boosted its position in T-Mobile US by 38.3% during the 3rd quarter. Barclays PLC now owns 3,165,153 shares of the Wireless communications provider’s stock worth $653,160,000 after purchasing an additional 876,182 shares during the period. Proficio Capital Partners LLC increased its holdings in T-Mobile US by 31,353.2% in the 4th quarter. Proficio Capital Partners LLC now owns 635,040 shares of the Wireless communications provider’s stock valued at $140,172,000 after purchasing an additional 633,021 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of T-Mobile US by 4.0% during the third quarter. Wellington Management Group LLP now owns 15,524,529 shares of the Wireless communications provider’s stock worth $3,203,642,000 after purchasing an additional 602,786 shares in the last quarter. 42.49% of the stock is owned by hedge funds and other institutional investors.

T-Mobile US Stock Down 1.2 %

TMUS stock opened at $264.93 on Friday. The firm has a fifty day moving average price of $252.92 and a two-hundred day moving average price of $232.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.91 and a quick ratio of 0.83. T-Mobile US, Inc. has a 1-year low of $159.14 and a 1-year high of $276.49. The firm has a market cap of $302.48 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.55 and a beta of 0.64.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings data on Wednesday, January 29th. The Wireless communications provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.42. T-Mobile US had a net margin of 13.93% and a return on equity of 18.09%. Research analysts predict that T-Mobile US, Inc. will post 10.37 EPS for the current year.

T-Mobile US Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 22nd. Investors of record on Friday, May 30th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, May 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.33%. T-Mobile US’s dividend payout ratio is currently 36.40%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMUS. Oppenheimer increased their target price on T-Mobile US from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Barclays boosted their target price on shares of T-Mobile US from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley started coverage on shares of T-Mobile US in a research note on Monday, December 16th. They issued an “overweight” rating and a $280.00 target price for the company. Hsbc Global Res downgraded shares of T-Mobile US from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on T-Mobile US from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, T-Mobile US currently has an average rating of “Moderate Buy” and a consensus target price of $256.80.

Insider Buying and Selling

In other news, Director Srikant M. Datar sold 730 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $263.00, for a total transaction of $191,990.00. Following the completion of the transaction, the director now owns 3,291 shares of the company’s stock, valued at approximately $865,533. The trade was a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

T-Mobile US Company 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.