T-Mobile US, Inc. $TMUS Position Lessened by Summit Global Investments

Summit Global Investments decreased its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 9.2% in the third quarter, Holdings Channel.com reports. The firm owned 27,151 shares of the Wireless communications provider’s stock after selling 2,753 shares during the period. Summit Global Investments’ holdings in T-Mobile US were worth $6,500,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Weaver Capital Management LLC lifted its holdings in shares of T-Mobile US by 0.6% during the 2nd quarter. Weaver Capital Management LLC now owns 6,737 shares of the Wireless communications provider’s stock valued at $1,605,000 after buying an additional 42 shares during the last quarter. Haven Private LLC raised its position in T-Mobile US by 1.3% during the second quarter. Haven Private LLC now owns 3,186 shares of the Wireless communications provider’s stock valued at $759,000 after acquiring an additional 42 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in T-Mobile US by 0.9% in the second quarter. Richardson Financial Services Inc. now owns 4,899 shares of the Wireless communications provider’s stock valued at $1,183,000 after acquiring an additional 45 shares during the last quarter. Cetera Trust Company N.A grew its position in T-Mobile US by 0.4% in the second quarter. Cetera Trust Company N.A now owns 12,018 shares of the Wireless communications provider’s stock worth $2,863,000 after acquiring an additional 45 shares in the last quarter. Finally, L2 Asset Management LLC increased its stake in shares of T-Mobile US by 2.2% during the 2nd quarter. L2 Asset Management LLC now owns 2,082 shares of the Wireless communications provider’s stock worth $496,000 after purchasing an additional 45 shares during the last quarter. 42.49% of the stock is owned by institutional investors and hedge funds.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $189.28 on Friday. T-Mobile US, Inc. has a 12 month low of $181.36 and a 12 month high of $276.49. The company has a market cap of $211.71 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.03 and a beta of 0.45. The business’s 50 day moving average is $198.01 and its two-hundred day moving average is $221.27. The company has a quick ratio of 0.80, a current ratio of 0.89 and a debt-to-equity ratio of 1.37.

T-Mobile US Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, February 27th. T-Mobile US’s dividend payout ratio is presently 39.23%.

Insider Activity at T-Mobile US

In other T-Mobile US news, Director G Michael Sievert sold 22,500 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $216.97, for a total value of $4,881,825.00. Following the completion of the sale, the director directly owned 308,696 shares of the company’s stock, valued at $66,977,771.12. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Katz sold 2,500 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $215.91, for a total transaction of $539,775.00. Following the completion of the sale, the insider owned 156,203 shares in the company, valued at $33,725,789.73. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,457 shares of company stock valued at $11,149,636 in the last 90 days. 0.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TMUS shares. Morgan Stanley reduced their price objective on shares of T-Mobile US from $280.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Wolfe Research reduced their price target on T-Mobile US from $290.00 to $253.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Williams Trading set a $263.00 price objective on T-Mobile US in a report on Friday, October 24th. Hsbc Global Res upgraded T-Mobile US from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Finally, KeyCorp upgraded T-Mobile US from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.36.

T-Mobile US 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.