Cornerstone Advisors LLC reduces stock position in T-Mobile US, Inc. (NASDAQ:TMUS)

Cornerstone Advisors LLC reduces stock position in T-Mobile US, Inc.  (NASDAQ:TMUS)

Cornerstone Advisors LLC reduced its position in T-Mobile US, Inc. shares. (NASDAQ:TMUS – Free Report) rose 37.1% in the second quarter, the company said in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owns 65,900 shares of the wireless communications provider’s stock after selling 38,800 shares during the period. Cornerstone Advisors LLC’s holdings in T-Mobile US were valued at $9,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also bought and sold shares of the company. Perpetual Ltd purchased a new stake in T-Mobile US stock in the first quarter worth approximately $260,000. Pinnacle Associates Ltd. raised its holdings of T-Mobile US shares by 0.4% in the second quarter. Pinnacle Associates Ltd. 25,687 shares of the wireless communications provider’s stock are now worth $3,568,000 after acquiring an additional 109 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of T-Mobile US by 35.7% in the 2nd quarter. Harbor Investment Advisory LLC now owns 6,353 shares of the wireless communications provider’s stock valued at $882,000 after acquiring an additional 1,670 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings of T-Mobile US shares by 7.6% in the first quarter. Oppenheimer & Co. owns Inc. 43,857 shares of the wireless communications provider’s stock are now worth $6,352,000 after acquiring an additional 3,116 shares during the last quarter. Finally, Sentry Investment Management LLC raised its holdings in T-Mobile US by 5.9% during the second quarter. Sentry Investment Management LLC now owns 4,192 shares of the wireless communications provider’s stock valued at $582,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 42.49% of the company’s shares.

Analyst ratings changes

A number of brokerages have issued reports on TMUS. Royal Bank of Canada boosted their price target on shares of T-Mobile US from $163.00 to $168.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Goldman Sachs Group increased their price target on shares of T-Mobile US from $191.00 to $194.00 in a research note on Monday, October 16th. Raymond James raised their price target on shares of T-Mobile US from $173.00 to $180.00 and gave the stock a “strong buy” rating in a research note on Thursday, October 26th. StockNews.com initiated coverage on shares of T-Mobile US in a research note on Thursday, October 5th. They have placed a “hold” rating on the stock. Finally, Barclays upgraded shares of T-Mobile US from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, T-Mobile US has a consensus rating of “Moderate Buy” and a consensus target price of $181.06.

Get the latest research report for T-Mobile US

Insiders are placing their bets

In other news, Michael J. Katz, an insider, sold 3,500 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $140.01, for a total value of $490,035.00. Following the sale, the insider now directly owns 122,477 shares in the company, valued at approximately $17,148,004.77. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this link. In other US T-Mobile news, Michael J. Katz, an insider, sold 3,500 shares of the company’s stock in a deal that occurred on Monday, September 11th. The shares were sold at an average price of $140.01, for a total transaction of $490,035.00. Following the completion of the transaction, the insider now directly owns 122,477 shares of the company’s stock, valued at approximately $17,148,004.77. The deal was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through this link. Also, CAO Dara Bazzano sold 3,953 shares of T-Mobile US stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $141.36, for a total transaction of $558,796.08. Following the transaction, the chief accounting officer now directly owns 10,877 shares of the company’s stock, valued at $1,537,572.72. The disclosure for this sale can be found here. Insiders sold a total of 164,453 shares of company stock worth $24,125,356 in the last three months. Corporate insiders own 0.70% of the company’s shares.

US T-Mobile stock fell 0.4%

T-Mobile’s US stock price fell $0.58 during midday trading on Monday, reaching $148.40. 1,206,527 shares of the company’s shares were traded, compared to an average trading volume of 5,290,740 shares. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.78 and a current ratio of 0.86. At T-Mobile US, Inc. The 12 month low is $124.92 and the 12 month high is $153.36. The company has a 50 day moving average of $142.94 and a two-hundred day moving average of $139.15. The company has a market capitalization of $171.62 billion, a P/E ratio of 23.06 and a beta of 0.53.

T-Mobile US (NASDAQ:TMUS – Get Free Report) last released its earnings results on Wednesday, October 25th. The wireless communications provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. T-Mobile US generated a net margin of 9.93% and a return on equity of 11.65%. The company achieved revenues of $19.25 billion for the quarter, compared to analysts’ expectations of $19.35 billion. As a group, analysts expect T-Mobile US, Inc. to announce… About 7.13 earnings per share for the current fiscal year.

T-Mobile US announces dividend

The company also recently announced a dividend, which will be paid on Friday, December 15th. A dividend will be issued to shareholders of record on Friday, December 1, of $0.65 per share. The ex-dividend date is Thursday, November 30th.

About T-Mobile US

(Free report)

T-Mobile US, Inc., together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company provides voice, messaging and data services to customers in postpaid, prepaid, wholesale and other services. It also offers wireless devices, including smartphones, wearable devices, tablets, home broadband routers and other mobile communications devices, as well as wireless devices and accessories; Financing through equipment installment plans; Rent through JUMP! on demand; And high-speed internet services.

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Institutional Ownership by Quarter for T-Mobile US (NASDAQ:TMUS)

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