Forefront Wealth Management Inc. Makes New $2.54 Million Investment in T-Mobile US, Inc. (NASDAQ:TMUS)

Forefront Wealth Management Inc. acquired a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS) in the fourth quarter, Holdings Channel reports. The fund acquired 11,509 shares of the Wireless communications provider’s stock, valued at approximately $2,540,000. T-Mobile US comprises 2.3% of Forefront Wealth Management Inc.’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds also recently added to or reduced their stakes in TMUS. Principal Financial Group Inc. lifted its position in 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. Quest Partners LLC acquired a new stake in T-Mobile US during the 3rd quarter worth approximately $643,000. Prospera Financial Services Inc lifted its position 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 acquiring an additional 1,972 shares during the period. Prospera Private Wealth LLC acquired a new stake in T-Mobile US during the 3rd quarter worth approximately $119,000. Finally, First Horizon Advisors Inc. lifted its position in T-Mobile US by 8.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,219 shares of the Wireless communications provider’s stock worth $252,000 after acquiring an additional 100 shares during the period. 42.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore ISI raised T-Mobile US to a “strong-buy” rating in a research note on Thursday, January 23rd. Tigress Financial reissued a “buy” rating on shares of T-Mobile US in a research report on Wednesday, February 26th. Bank of America raised their price target on T-Mobile US from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on T-Mobile US from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Sanford C. Bernstein assumed coverage on T-Mobile US in a research report on Tuesday, December 10th. They set a “market perform” rating and a $265.00 price target for the company. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.80.

Insiders Place Their Bets

In other T-Mobile US news, Director Srikant M. Datar sold 730 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $263.00, for a total transaction of $191,990.00. Following the transaction, the director now owns 3,291 shares in the company, valued at $865,533. The trade was a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

T-Mobile US Price Performance

Shares of T-Mobile US stock opened at $255.84 on Friday. T-Mobile US, Inc. has a twelve month low of $158.84 and a twelve month high of $276.49. The stock has a market capitalization of $292.10 billion, a P/E ratio of 26.46, a PEG ratio of 1.55 and a beta of 0.64. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. The business’s fifty day moving average price is $248.19 and its 200 day moving average price is $230.36.

T-Mobile US (NASDAQ:TMUS) last issued its earnings results on Wednesday, January 29th. The Wireless communications provider reported $2.57 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that T-Mobile US, Inc. will post 10.37 earnings per share for the current year.

T-Mobile US Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, May 30th. T-Mobile US’s dividend payout ratio is presently 36.40%.

T-Mobile US Company 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.