Norges Bank Makes New $1.34 Billion Investment in T-Mobile US, Inc. $TMUS

Norges Bank bought a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) in the fourth quarter, HoldingsChannel reports. The firm bought 6,579,580 shares of the Wireless communications provider’s stock, valued at approximately $1,335,918,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC raised its position in T-Mobile US by 3.8% during the third quarter. CYBER HORNET ETFs LLC now owns 1,319 shares of the Wireless communications provider’s stock worth $316,000 after acquiring an additional 48 shares during the last quarter. Appleton Partners Inc. MA raised its position in T-Mobile US by 5.3% during the third quarter. Appleton Partners Inc. MA now owns 971 shares of the Wireless communications provider’s stock worth $232,000 after acquiring an additional 49 shares during the last quarter. MJP Associates Inc. ADV raised its position in T-Mobile US by 2.7% during the third quarter. MJP Associates Inc. ADV now owns 1,886 shares of the Wireless communications provider’s stock worth $452,000 after acquiring an additional 49 shares during the last quarter. Tevis Investment Management raised its position in T-Mobile US by 3.0% during the third quarter. Tevis Investment Management now owns 1,688 shares of the Wireless communications provider’s stock worth $404,000 after acquiring an additional 49 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its position in T-Mobile US by 0.6% during the third quarter. Meiji Yasuda Life Insurance Co now owns 8,094 shares of the Wireless communications provider’s stock worth $1,938,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 42.49% of the company’s stock.

Insider Activity at T-Mobile US

In related news, insider Andre Almeida bought 5,097 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $196.18 per share, for a total transaction of $999,929.46. Following the completion of the acquisition, the insider owned 44,850 shares in the company, valued at $8,798,673. This trade represents a 12.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jon Freier sold 4,799 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $190.00, for a total transaction of $911,810.00. Following the completion of the sale, the chief operating officer owned 217,168 shares of the company’s stock, valued at approximately $41,261,920. The trade was a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,090 shares of company stock valued at $2,618,500 in the last ninety days. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TMUS. Morgan Stanley began coverage on shares of T-Mobile US in a report on Thursday, April 16th. They set an “overweight” rating and a $260.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of T-Mobile US in a report on Wednesday, April 29th. Wolfe Research reiterated an “outperform” rating and set a $255.00 price target on shares of T-Mobile US in a report on Thursday, February 12th. Moffett Nathanson upgraded shares of T-Mobile US from a “neutral” rating to a “buy” rating and set a $254.00 price target for the company in a report on Wednesday, April 8th. Finally, Arete Research lifted their price target on shares of T-Mobile US from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.48.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $187.53 on Friday. The company has a market cap of $202.94 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.33. T-Mobile US, Inc. has a 12 month low of $181.36 and a 12 month high of $261.56. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.09 and a quick ratio of 0.97. The company has a 50-day simple moving average of $196.33 and a 200-day simple moving average of $201.73.

T-Mobile US (NASDAQ:TMUS) last released its earnings results on Tuesday, April 28th. The Wireless communications provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. T-Mobile US had a net margin of 11.65% and a return on equity of 19.47%. The firm had revenue of $23.11 billion during the quarter, compared to the consensus estimate of $22.98 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. T-Mobile US’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that T-Mobile US, Inc. will post 10.65 earnings per share for the current year.

T-Mobile US Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, May 29th. T-Mobile US’s payout ratio is presently 43.40%.

T-Mobile US Company 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.