On September 20, 2023, it was reported that Symphony Financial Ltd. Co. had acquired a new position in the shares of T-Mobile US, Inc. (NASDAQ: TMUS) during the second quarter of the year. According to its most recent filing with the Securities and Exchange Commission (SEC), Symphony Financial purchased 2,890 shares of the wireless communications provider’s stock, amounting to a value of approximately $397,000.
In other news related to T-Mobile US, insider Michael J. Katz recently sold 3,500 shares of the company’s stock on September 11th. The transaction was executed at an average price of $140.01 per share, resulting in a total value of $490,035. After the sale, Katz now holds 122,477 shares in T-Mobile US worth approximately $17,148,004.77. This sale was disclosed in a filing with the SEC and can be accessed through the provided link.
Additionally, on September 13th, Chief Accounting Officer Dara Bazzano sold 3,953 shares of T-Mobile US stock at an average price of $141.36 per share for a total transaction value of $558,796.08. Following this sale, Bazzano currently holds 10,877 shares in the company valued at about $1,537,572.72. The SEC filing that disclosed this transaction is readily accessible through their official website.
Moreover, insider Michael J. Katz made another sale on Monday, September 11thdisposing of an additional 3,500 shares at an average price of $140.01 per share for a total amount of $490,035. Post-transaction ownership reflects Katz’s possession of 122,477 shares worth around $17,148,o04 .77 as detailed in the disclosure available here.
It is important to note that during the last quarter alone insiders have collectively sold 42,453 shares of T-Mobile US stock with a total worth of $5,915,631. This figure underscores the extent to which insiders own approximately 0.70% of the company’s stock.
The above information provides insights into recent transactions involving T-Mobile US and its key executives. The disclosure of these activities is vital for investors and stakeholders to evaluate the financial performance and prospects of the company accurately.
Ownership Changes and Analyst Ratings for T-Mobile US, Inc.
September 20, 2023 – T-Mobile US, Inc. (NASDAQ: TMUS) has recently seen changes in its ownership structure, as hedge funds and institutional investors have made alterations to their positions in the company. Notably, Price T Rowe Associates Inc. MD boosted its stake in T-Mobile US by a staggering 47.6% during the first quarter. The firm now possesses an impressive 32,746,412 shares of the wireless communications provider’s stock, valued at $4,742,992,000 after purchasing an additional 10,564,117 shares during that period.
Joined by other influential names in the industry, Norges Bank also acquired a new stake in T-Mobile US in the fourth quarter valued at $2,801,442,000. Geode Capital Management LLC increased its holdings in the company by 1.0% during the same quarter as well. With an additional purchase of 122,503 shares of T-Mobile US’ stock worth $1,691,765,000 during that period.
Morgan Stanley also demonstrated confidence in T-Mobile US’ prospects by increasing its stake by 18.8% during the fourth quarter. The financial services firm now owns approximately 10 million shares of the wireless communications provider’s stock valued at $1.53 billion.
Furthermore, Jennison Associates LLC boosted its stake in T-Mobile US by an impressive 23% during the first quarter and currently owns around 8 million shares valued at $1.19 billion.
These moves indicate a high level of confidence among institutional investors and uncover a strong bullish sentiment towards T-Mobile US. Ultimately illustrating how these prominent entities believe that investing substantial sums into this wireless communications provider will prove to be lucrative over time.
Notably owned by institutional investors at present constitute approximately 42.49% of the total number of outstanding shares for T-Mobile US.
Despite these encouraging signs from established investment firms and banks, several analyst reports have also emerged surrounding T-Mobile US. HSBC, in a research report on June 5th, reduced their target price for the company’s stock from $185.00 to $165.00. Similarly, Raymond James cut their target price to $172.00 from $184.00 and assigned a “strong buy” rating.
However, there are analysts who remain optimistic about T-Mobile US’ potential for growth. TD Cowen upped their target price for the stock to $210.00 and gave it an “outperform” rating in a report released on July 28th.
Royal Bank of Canada also exhibited confidence in T-Mobile US by issuing an “outperform” rating while reducing their target price from $172.00 to $163.00 in an August 4th analysis.
Despite these varying opinions among analysts, the majority have recommended buying shares of T-Mobile US or consider the stock as a solid investment opportunity.
The current consensus rating for T-Mobile US is described as a “Moderate Buy,” according to data from Bloomberg. Furthermore, analysts have set an average price target of $181.95 for the company’s stock.
On Wednesday, September 20th, NASDAQ TMUS opened trading at $142.47 per share. The business’s 50-day moving average price recorded at $138.17 while its two-hundred day moving average settled at $139.86.
Over the past year, shares of T-Mobile US have traded between a low of $124.92 and a high of $154.38.
With a market capitalization of approximately $167.61 billion and accompanied by a PE ratio of 28.38, T-Mobile US continues to be recognized as one of the leading players in the wireless communications industry.
In terms of financial performance, T-Mobile US announced positive quarterly earnings results on Thursday, July 27th.