ICICI Prudential Asset Management Co Ltd Buys 3,053 Shares of T-Mobile US, Inc. $TMUS

ICICI Prudential Asset Management Co Ltd boosted its stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,283 shares of the Wireless communications provider’s stock after purchasing an additional 3,053 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in T-Mobile US were worth $4,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of T-Mobile US by 14.2% in the second quarter. Allworth Financial LP now owns 6,530 shares of the Wireless communications provider’s stock worth $1,556,000 after acquiring an additional 810 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in T-Mobile US by 4.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 450,679 shares of the Wireless communications provider’s stock worth $107,884,000 after purchasing an additional 19,486 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in T-Mobile US by 7.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 204,754 shares of the Wireless communications provider’s stock worth $49,014,000 after purchasing an additional 14,800 shares during the period. Varma Mutual Pension Insurance Co boosted its stake in T-Mobile US by 8.8% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 82,917 shares of the Wireless communications provider’s stock worth $19,849,000 after purchasing an additional 6,700 shares during the period. Finally, Longbow Finance SA grew its holdings in T-Mobile US by 22.2% during the 3rd quarter. Longbow Finance SA now owns 31,948 shares of the Wireless communications provider’s stock valued at $7,648,000 after buying an additional 5,805 shares in the last quarter. Hedge funds and other institutional investors own 42.49% of the company’s stock.

Insider Buying and Selling

In other news, CFO Peter Osvaldik sold 27,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $214.86, for a total value of $5,801,220.00. Following the sale, the chief financial officer owned 51,573 shares of the company’s stock, valued at approximately $11,080,974.78. This represents a 34.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raul Marcelo Claure sold 550,000 shares of T-Mobile US stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $217.57, for a total transaction of $119,663,500.00. Following the transaction, the director directly owned 891,204 shares of the company’s stock, valued at approximately $193,899,254.28. This represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 594,971 shares of company stock worth $129,410,483. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of T-Mobile US from $280.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. KeyCorp upgraded shares of T-Mobile US from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 2nd. Citigroup dropped their price objective on shares of T-Mobile US from $268.00 to $220.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Barclays raised their price objective on T-Mobile US from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, TD Cowen decreased their target price on T-Mobile US from $263.00 to $252.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.09.

T-Mobile US Stock Up 1.0%

Shares of NASDAQ:TMUS opened at $215.30 on Friday. The company has a market cap of $237.23 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.36 and a beta of 0.44. T-Mobile US, Inc. has a 12 month low of $181.36 and a 12 month high of $276.49. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $198.28 and a 200 day moving average price of $218.33.

T-Mobile US Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. T-Mobile US’s payout ratio is currently 42.02%.

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.