Summit Asset Management LLC Purchases Shares of 1,120 T-Mobile US, Inc. (NASDAQ:TMUS)

Summit Asset Management LLC purchased a new stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,120 shares of the Wireless communications provider’s stock, valued at approximately $231,000.

Other institutional investors also recently bought and sold shares of the company. DT Investment Partners LLC raised its position in T-Mobile US by 65.3% during the third quarter. DT Investment Partners LLC now owns 119 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 47 shares in the last quarter. MFA Wealth Advisors LLC grew its holdings in T-Mobile US by 128.3% in the third quarter. MFA Wealth Advisors LLC now owns 137 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 77 shares during the period. WASHINGTON TRUST Co grew its holdings in T-Mobile US by 143.1% in the second quarter. WASHINGTON TRUST Co now owns 141 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 83 shares during the period. Y.D. More Investments Ltd acquired a new stake in T-Mobile US in the second quarter valued at approximately $27,000. Finally, Summit Securities Group LLC acquired a new stake in T-Mobile US in the second quarter valued at approximately $27,000. 42.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T-Mobile US

In other T-Mobile US news, CEO G Michael Sievert sold 20,000 shares of T-Mobile US stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $237.73, for a total value of $4,754,600.00. Following the completion of the sale, the chief executive officer now directly owns 378,124 shares of the company’s stock, valued at approximately $89,891,418.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO G Michael Sievert sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $237.73, for a total value of $4,754,600.00. Following the transaction, the chief executive officer now directly owns 378,124 shares in the company, valued at $89,891,418.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Wolfe Nelson sold 42,769 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $216.26, for a total transaction of $9,249,223.94. Following the sale, the executive vice president now directly owns 61,871 shares of the company’s stock, valued at approximately $13,380,222.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,924 shares of company stock valued at $97,427,925. Company insiders own 0.67% of the company’s stock.

T-Mobile US Trading Up 0.8 %

Shares of TMUS opened at $240.88 on Thursday. The firm’s 50-day moving average is $213.37 and its two-hundred day moving average is $191.28. T-Mobile US, Inc. has a twelve month low of $145.77 and a twelve month high of $241.09. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $279.54 billion, a P/E ratio of 27.47, a PEG ratio of 1.22 and a beta of 0.50.

T-Mobile US (NASDAQ:TMUS) last issued its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.29. The business had revenue of $20.16 billion for the quarter, compared to the consensus estimate of $20.01 billion. T-Mobile US had a return on equity of 16.35% and a net margin of 12.96%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 earnings per share. On average, research analysts predict that T-Mobile US, Inc. will post 9.36 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, November 27th. This is a positive change from T-Mobile US’s previous quarterly dividend of $0.65. T-Mobile US’s payout ratio is currently 40.14%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TMUS. Sanford C. Bernstein raised T-Mobile US to a “strong-buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on T-Mobile US from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Cowen upped their target price on T-Mobile US from $216.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price target on T-Mobile US from $209.00 to $239.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Daiwa America raised shares of T-Mobile US to a “hold” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.83.

About T-Mobile US

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.