Envestnet Asset Management Inc. Increases Holdings in T-Mobile US, Inc. (TMUS)
Envestnet Asset Management Inc. boosted its position in T-Mobile US, Inc. (NASDAQ:TMUS) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,123 shares of the Wireless communications provider’s stock after purchasing an additional 5,063 shares during the period. Envestnet Asset Management Inc.’s holdings in T-Mobile US were worth $3,212,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Nippon Life Global Investors Americas Inc. lifted its position in shares of T-Mobile US by 65.7% during the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 239,920 shares of the Wireless communications provider’s stock valued at $14,794,000 after buying an additional 95,120 shares in the last quarter. Graticule Asia Macro Advisors LLC lifted its position in shares of T-Mobile US by 39.0% during the 3rd quarter. Graticule Asia Macro Advisors LLC now owns 760,160 shares of the Wireless communications provider’s stock valued at $46,871,000 after buying an additional 213,327 shares in the last quarter. Invictus RG purchased a new position in shares of T-Mobile US during the 3rd quarter valued at about $419,000. Oakview Capital Management L.P. purchased a new position in shares of T-Mobile US during the 3rd quarter valued at about $16,340,000. Finally, Pinebridge Investments L.P. lifted its position in shares of T-Mobile US by 12.9% during the 3rd quarter. Pinebridge Investments L.P. now owns 98,836 shares of the Wireless communications provider’s stock valued at $6,095,000 after buying an additional 11,303 shares in the last quarter. 34.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $76.00 price objective on shares of T-Mobile US in a research report on Tuesday, October 3rd. Cowen reaffirmed a “buy” rating and set a $70.00 price objective on shares of T-Mobile US in a research report on Friday, August 25th. KeyCorp reaffirmed an “overweight” rating and set a $72.00 price objective on shares of T-Mobile US in a research report on Saturday, September 16th. HSBC raised T-Mobile US from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, BidaskClub cut T-Mobile US from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $69.62.
Shares of T-Mobile US, Inc. (TMUS) opened at $63.48 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. T-Mobile US, Inc. has a 12 month low of $54.60 and a 12 month high of $68.88. The stock has a market capitalization of $52,031.04, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.29.
T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings data on Monday, October 23rd. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.17. T-Mobile US had a return on equity of 9.99% and a net margin of 5.55%. The business had revenue of $10.02 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. sell-side analysts expect that T-Mobile US, Inc. will post 2.41 earnings per share for the current year.
T-Mobile US declared that its board has authorized a stock buyback plan on Wednesday, December 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
About T-Mobile US
T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services to approximately 71 million customers in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, including smartphones, tablets, and other mobile communication devices, as well as accessories that are manufactured by various suppliers.
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