PNC Financial Services Group Inc. Acquires 18,222 Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

PNC Financial Services Group Inc. increased its position in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,532 shares of the Wireless communications provider's stock after purchasing an additional 18,222 shares during the quarter. PNC Financial Services Group Inc.'s holdings in T-Mobile US were worth $33,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of T-Mobile US in the third quarter worth $5,722,000. SouthState Corp grew its stake in T-Mobile US by 1,939.3% in the third quarter. SouthState Corp now owns 5,914 shares of the Wireless communications provider's stock worth $1,220,000 after purchasing an additional 5,624 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in T-Mobile US by 18.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 15,595 shares of the Wireless communications provider's stock valued at $3,218,000 after buying an additional 2,454 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in T-Mobile US by 40.4% during the 3rd quarter. Prospera Financial Services Inc now owns 6,849 shares of the Wireless communications provider's stock worth $1,414,000 after buying an additional 1,972 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new stake in shares of T-Mobile US in the 3rd quarter valued at approximately $908,000. Hedge funds and other institutional investors own 42.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Tigress Financial increased their target price on shares of T-Mobile US from $205.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Morgan Stanley raised their target price on shares of T-Mobile US from $209.00 to $239.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. KeyCorp increased their price target on T-Mobile US from $230.00 to $252.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Bank of America boosted their price objective on T-Mobile US from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of T-Mobile US from $216.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $241.83.

T-Mobile US Price Performance

NASDAQ TMUS opened at $235.47 on Thursday. The stock has a market capitalization of $273.26 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.19 and a beta of 0.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.08. The business's fifty day moving average is $218.19 and its two-hundred day moving average is $194.11. T-Mobile US, Inc. has a 1 year low of $147.96 and a 1 year high of $242.43.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The Wireless communications provider reported $2.61 EPS for the quarter, beating the consensus estimate of $2.32 by $0.29. The business had revenue of $20.16 billion during the quarter, compared to the consensus estimate of $20.01 billion. T-Mobile US had a return on equity of 16.35% and a net margin of 12.96%. T-Mobile US's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. On average, research analysts forecast that T-Mobile US, Inc. will post 9.38 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, November 27th. This is an increase from T-Mobile US's previous quarterly dividend of $0.65. T-Mobile US's dividend payout ratio is 29.65%.

Insider Buying and Selling

In other news, CEO G Michael Sievert sold 20,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $237.73, for a total value of $4,754,600.00. Following the transaction, the chief executive officer now directly owns 378,124 shares of the company's stock, valued at approximately $89,891,418.52. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Katz sold 3,000 shares of T-Mobile US stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $205.30, for a total value of $615,900.00. Following the sale, the insider now directly owns 119,687 shares of the company's stock, valued at approximately $24,571,741.10. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 455,338 shares of company stock valued at $95,539,866. Company insiders own 0.67% 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.