State of Michigan Retirement System Grows Stock Holdings in T-Mobile US, Inc. (NASDAQ:TMUS)

State of Michigan Retirement System raised its position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,041 shares of the Wireless communications provider’s stock after purchasing an additional 3,700 shares during the period. State of Michigan Retirement System’s holdings in T-Mobile US were worth $23,347,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MV Capital Management Inc. grew its stake in shares of T-Mobile US by 18.0% during the first quarter. MV Capital Management Inc. now owns 851 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 130 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of T-Mobile US by 6.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 495,219 shares of the Wireless communications provider’s stock valued at $80,830,000 after buying an additional 28,319 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of T-Mobile US by 18.0% during the first quarter. Hexagon Capital Partners LLC now owns 933 shares of the Wireless communications provider’s stock valued at $152,000 after buying an additional 142 shares during the last quarter. Park Place Capital Corp grew its stake in shares of T-Mobile US by 16.6% during the first quarter. Park Place Capital Corp now owns 5,535 shares of the Wireless communications provider’s stock valued at $903,000 after buying an additional 788 shares during the last quarter. Finally, Kowal Investment Group LLC bought a new position in shares of T-Mobile US during the first quarter valued at about $200,000. Hedge funds and other institutional investors own 42.49% of the company’s stock.

T-Mobile US Trading Up 0.5 %

Shares of TMUS stock opened at $179.98 on Wednesday. T-Mobile US, Inc. has a 1 year low of $131.47 and a 1 year high of $182.67. The firm has a fifty day moving average price of $170.18 and a 200-day moving average price of $164.69. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.94 and a quick ratio of 0.86. The company has a market cap of $210.91 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 0.69 and a beta of 0.51.

T-Mobile US (NASDAQ:TMUS) last issued its earnings results on Thursday, April 25th. The Wireless communications provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.17. The company had revenue of $19.59 billion during the quarter, compared to the consensus estimate of $19.81 billion. T-Mobile US had a net margin of 11.15% and a return on equity of 13.61%. T-Mobile US’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. As a group, equities analysts predict that T-Mobile US, Inc. will post 9.01 earnings per share for the current year.

T-Mobile US Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, August 30th. T-Mobile US’s payout ratio is currently 35.37%.

Insiders Place Their Bets

In other T-Mobile US news, CAO Dara Bazzano sold 4,300 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $179.78, for a total value of $773,054.00. Following the sale, the chief accounting officer now owns 6,202 shares in the company, valued at approximately $1,114,995.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Dara Bazzano sold 4,300 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $179.78, for a total transaction of $773,054.00. Following the sale, the chief accounting officer now directly owns 6,202 shares in the company, valued at approximately $1,114,995.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Telekom Ag Deutsche sold 170,903 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $159.95, for a total transaction of $27,335,934.85. Following the completion of the sale, the director now directly owns 680,306,713 shares in the company, valued at $108,815,058,744.35. The disclosure for this sale can be found here. Insiders have sold a total of 6,399,830 shares of company stock worth $1,071,720,246 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TMUS shares. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of T-Mobile US in a research note on Wednesday, April 3rd. KeyCorp raised their target price on T-Mobile US from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Bank of America raised their target price on T-Mobile US from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group started coverage on T-Mobile US in a research note on Monday. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on T-Mobile US from $184.00 to $188.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $190.79.

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.