Convergence Investment Partners LLC Sells 356 Shares of T-Mobile US, Inc. $TMUS

Convergence Investment Partners LLC reduced its position in T-Mobile US, Inc. (NASDAQ:TMUS) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,284 shares of the Wireless communications provider’s stock after selling 356 shares during the quarter. Convergence Investment Partners LLC’s holdings in T-Mobile US were worth $783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TMUS. Nuveen LLC bought a new stake in shares of T-Mobile US in the first quarter valued at about $618,248,000. Assenagon Asset Management S.A. grew its stake in T-Mobile US by 518.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,383,922 shares of the Wireless communications provider’s stock valued at $329,733,000 after purchasing an additional 1,160,275 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in T-Mobile US by 14.3% in the first quarter. Canada Pension Plan Investment Board now owns 6,889,126 shares of the Wireless communications provider’s stock valued at $1,837,399,000 after purchasing an additional 864,030 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in T-Mobile US by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,172,644 shares of the Wireless communications provider’s stock valued at $1,112,886,000 after purchasing an additional 844,932 shares during the last quarter. Finally, Amundi grew its stake in T-Mobile US by 34.4% in the first quarter. Amundi now owns 3,176,925 shares of the Wireless communications provider’s stock valued at $851,066,000 after purchasing an additional 813,331 shares during the last quarter. 42.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wolfe Research cut their target price on T-Mobile US from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. KeyCorp reiterated an “underweight” rating and issued a $200.00 target price on shares of T-Mobile US in a research note on Wednesday, July 9th. Arete Research upgraded T-Mobile US to a “strong-buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on T-Mobile US in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $286.00 target price on the stock. Finally, HSBC upgraded T-Mobile US from a “hold” rating to a “buy” rating and set a $285.00 target price on the stock in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.22.

Insider Buying and Selling

In related news, Director Telekom Ag Deutsche sold 856 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $220.03, for a total value of $188,345.68. Following the sale, the director owned 582,185,182 shares in the company, valued at $128,098,205,595.46. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,343,114 shares of company stock valued at $564,035,506 in the last 90 days. 0.37% of the stock is owned by corporate insiders.

T-Mobile US Stock Performance

TMUS opened at $220.68 on Tuesday. T-Mobile US, Inc. has a 52-week low of $208.39 and a 52-week high of $276.49. The company has a quick ratio of 0.80, a current ratio of 0.89 and a debt-to-equity ratio of 1.37. The company has a market cap of $248.36 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.48 and a beta of 0.59. The firm’s 50-day moving average price is $238.61 and its 200-day moving average price is $240.28.

T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.01. T-Mobile US had a net margin of 13.83% and a return on equity of 19.76%. The firm had revenue of $21.96 billion for the quarter, compared to the consensus estimate of $21.61 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be given a $1.02 dividend. This is an increase from T-Mobile US’s previous quarterly dividend of $0.88. This represents a $4.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, November 26th. T-Mobile US’s payout ratio is currently 39.23%.

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.