8,165,601 Shares in T-Mobile US, Inc. (NASDAQ:TMUS) Bought by Norges Bank

Norges Bank bought a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,165,601 shares of the Wireless communications provider’s stock, valued at approximately $1,802,393,000. Norges Bank owned approximately 0.72% of T-Mobile US at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of T-Mobile US by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,978,567 shares of the Wireless communications provider’s stock worth $408,297,000 after acquiring an additional 47,350 shares during the period. Fisher Asset Management LLC lifted its position in T-Mobile US by 139.5% during the third quarter. Fisher Asset Management LLC now owns 4,029 shares of the Wireless communications provider’s stock worth $831,000 after acquiring an additional 2,347 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of T-Mobile US by 64.1% during the third quarter. Brown Brothers Harriman & Co. now owns 6,315 shares of the Wireless communications provider’s stock worth $1,303,000 after buying an additional 2,467 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in T-Mobile US by 1.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 730,061 shares of the Wireless communications provider’s stock worth $150,655,000 after acquiring an additional 6,885 shares during the period. Finally, Townsquare Capital LLC grew its stake in T-Mobile US by 16.9% during the third quarter. Townsquare Capital LLC now owns 18,622 shares of the Wireless communications provider’s stock worth $3,843,000 after buying an additional 2,697 shares in the last quarter. 42.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMUS shares. Tigress Financial reissued a “buy” rating on shares of T-Mobile US in a report on Wednesday, February 26th. Scotiabank upped their price target on shares of T-Mobile US from $247.00 to $275.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Citigroup cut shares of T-Mobile US from a “buy” rating to a “neutral” rating and set a $268.00 price objective on the stock. in a research note on Friday, March 14th. Royal Bank of Canada lifted their target price on T-Mobile US from $245.00 to $260.00 and gave the stock a “sector perform” rating in a report on Friday, March 21st. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of T-Mobile US in a research report on Wednesday, February 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.80.

Insider Activity

In related news, Director Srikant M. Datar sold 730 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $263.00, for a total value of $191,990.00. Following the sale, the director now owns 3,291 shares in the company, valued at approximately $865,533. This trade represents a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

T-Mobile US Stock Performance

Shares of TMUS opened at $262.51 on Thursday. T-Mobile US, Inc. has a one year low of $159.14 and a one year high of $276.49. The company has a 50-day simple moving average of $250.95 and a two-hundred day simple moving average of $231.90. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market capitalization of $299.72 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.55 and a beta of 0.64.

T-Mobile US (NASDAQ:TMUS) last issued its quarterly earnings results on Wednesday, January 29th. The Wireless communications provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.42. T-Mobile US had a return on equity of 18.09% and a net margin of 13.93%. On average, analysts anticipate that T-Mobile US, Inc. will post 10.37 EPS for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 22nd. Shareholders of record on Friday, May 30th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, May 30th. T-Mobile US’s dividend payout ratio is currently 36.40%.

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.