SouthState Corp Buys 2,716 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

SouthState Corp raised its stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,447 shares of the Wireless communications provider’s stock after buying an additional 2,716 shares during the period. SouthState Corp’s holdings in T-Mobile US were worth $2,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TMUS. Crestwood Advisors Group LLC increased its position in shares of T-Mobile US by 79.5% during the first quarter. Crestwood Advisors Group LLC now owns 1,635 shares of the Wireless communications provider’s stock worth $436,000 after acquiring an additional 724 shares in the last quarter. Burling Wealth Partners LLC bought a new position in shares of T-Mobile US in the fourth quarter valued at approximately $2,539,000. Advisor Resource Council bought a new position in T-Mobile US during the 1st quarter valued at $463,000. Main Street Research LLC boosted its holdings in T-Mobile US by 1.0% during the 1st quarter. Main Street Research LLC now owns 177,902 shares of the Wireless communications provider’s stock worth $47,448,000 after acquiring an additional 1,788 shares during the last quarter. Finally, Sawgrass Asset Management LLC bought a new stake in shares of T-Mobile US in the 1st quarter worth $6,543,000. Institutional investors and hedge funds own 42.49% of the company’s stock.

T-Mobile US Price Performance

T-Mobile US stock opened at $244.98 on Monday. The firm has a market capitalization of $275.71 billion, a PE ratio of 23.11, a P/E/G ratio of 1.35 and a beta of 0.62. T-Mobile US, Inc. has a 52 week low of $192.11 and a 52 week high of $276.49. The firm’s 50-day simple moving average is $234.84 and its 200 day simple moving average is $246.54. The company has a quick ratio of 1.13, a current ratio of 1.21 and a debt-to-equity ratio of 1.33.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings data on Wednesday, July 23rd. The Wireless communications provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.15. The business had revenue of $21.13 billion during the quarter, compared to analyst estimates of $20.99 billion. T-Mobile US had a net margin of 14.53% and a return on equity of 19.68%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 earnings per share. On average, equities research analysts predict that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. T-Mobile US’s dividend payout ratio is 33.21%.

Wall Street Analysts Forecast Growth

TMUS has been the subject of a number of recent analyst reports. Scotiabank raised shares of T-Mobile US from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $275.00 to $277.50 in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on T-Mobile US from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Morgan Stanley lifted their price target on T-Mobile US from $265.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Arete Research raised T-Mobile US to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Redburn Atlantic upgraded T-Mobile US from a “strong sell” rating to a “hold” rating and set a $228.00 price objective for the company in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.31.

Insider Buying and Selling

In related news, Director Telekom Ag Deutsche sold 69,840 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $238.08, for a total transaction of $16,627,507.20. Following the sale, the director directly owned 647,660,844 shares of the company’s stock, valued at approximately $154,195,093,739.52. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,764,850 shares of company stock worth $410,591,012. Corporate insiders own 0.37% of the company’s stock.

T-Mobile US 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.