SouthState Corp Has $1.22 Million Stake in T-Mobile US, Inc. (NASDAQ:TMUS)

SouthState Corp boosted its holdings in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 1,939.3% in the third quarter, Holdings Channel reports. The firm owned 5,914 shares of the Wireless communications provider’s stock after purchasing an additional 5,624 shares during the quarter. SouthState Corp’s holdings in T-Mobile US were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TMUS. Legal & General Group Plc boosted its position in T-Mobile US by 6.8% in the second quarter. Legal & General Group Plc now owns 4,751,007 shares of the Wireless communications provider’s stock valued at $837,032,000 after buying an additional 303,582 shares in the last quarter. Blackstone Inc. bought a new stake in T-Mobile US during the 1st quarter worth about $48,966,000. International Assets Investment Management LLC raised its stake in shares of T-Mobile US by 21,580.9% during the third quarter. International Assets Investment Management LLC now owns 249,981 shares of the Wireless communications provider’s stock worth $51,586,000 after buying an additional 248,828 shares during the last quarter. Swedbank AB acquired a new position in shares of T-Mobile US in the 1st quarter valued at $38,784,000. Finally, Distillate Capital Partners LLC acquired a new position in T-Mobile US in the second quarter valued at about $41,860,000. Institutional investors and hedge funds own 42.49% of the company’s stock.

T-Mobile US Stock Down 1.6 %

NASDAQ:TMUS opened at $233.20 on Wednesday. T-Mobile US, Inc. has a twelve month low of $147.24 and a twelve month high of $242.43. The firm has a market capitalization of $270.63 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 1.20 and a beta of 0.50. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $217.45 and its two-hundred day moving average price is $193.82.

T-Mobile US (NASDAQ:TMUS) last issued its earnings results on Wednesday, October 23rd. The Wireless communications provider reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.29. T-Mobile US had a net margin of 12.96% and a return on equity of 16.35%. The business had revenue of $20.16 billion for the quarter, compared to the consensus estimate of $20.01 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that T-Mobile US, Inc. will post 9.38 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The firm 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 1.51%. This is a boost from T-Mobile US’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, November 27th. T-Mobile US’s dividend payout ratio (DPR) is presently 29.65%.

Insider Transactions at T-Mobile US

In other T-Mobile US news, Director Raul Marcelo Claure sold 1,572 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $196.00, for a total transaction of $308,112.00. Following the completion of the sale, the director now directly owns 1,824,632 shares in the company, valued at $357,627,872. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Katz sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $205.30, for a total value of $615,900.00. Following the completion of the transaction, the insider now directly owns 119,687 shares in the company, valued at $24,571,741.10. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 455,338 shares of company stock worth $95,539,866. 0.67% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on TMUS. Bank of America boosted their price objective on shares of T-Mobile US from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price on T-Mobile US from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on T-Mobile US from $232.00 to $255.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group lifted their price objective on T-Mobile US from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of T-Mobile US from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, T-Mobile US currently has an average rating of “Moderate Buy” and a consensus target price of $241.83.

T-Mobile US Company Profile

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.