Dakota Wealth Management Acquires Shares of T-Mobile US, Inc. (NASDAQ:TMUS)

2 min read | October 25, 2024 04:24 AM PDT | By Team Kalkine Media

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Dakota Wealth Management Acquires Shares of T-Mobile US, Inc. (NASDAQ:TMUS) — Image source: Shutterstock

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Highlights

Dakota Wealth Management increased its position in T-Mobile US, Inc. by 11.7% in the third quarter.

T-Mobile US reported better-than-expected quarterly earnings and revenue, indicating solid business performance.

The company has declared an increased quarterly dividend, reflecting confidence in its financial health.

Dakota Wealth Management has enhanced its stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 11.7% during the third quarter, now holding 38,169 shares of the wireless communications provider. This increase follows the acquisition of an additional 4,009 shares. As of the latest reporting period, Dakota Wealth Management's holdings were valued at approximately $7.88 million.

Several institutional investors have also adjusted their positions in T-Mobile US. Vanguard Group Inc. raised its holdings by 3.8%, acquiring over 1.6 million shares. Similarly, Clearbridge Investments LLC increased its position by 18.8%, and Legal & General Group Plc lifted its stake by 6.8%. Notably, hedge funds and other institutional investors collectively own about 42.49% of the company's stock.

T-Mobile US recently reported quarterly earnings that surpassed analysts' expectations, with earnings per share of $2.61 compared to a consensus estimate of $2.32. The company achieved a net margin of 11.95% and a return on equity of 14.88%, reflecting robust financial performance. Revenue for the quarter was reported at $20.16 billion, indicating a year-over-year growth of 4.7%.

In addition to its strong earnings report, T-Mobile US announced an increase in its quarterly dividend to $0.88, up from $0.65. This dividend will be paid on December 12 to stockholders of record as of November 27, representing an annualized dividend of $3.52 with a yield of 1.51%. The company's payout ratio stands at 47.89%.

Analyst ratings for T-Mobile US remain optimistic, with one hold rating, eighteen buy ratings, and one strong buy rating. Recent upgrades have pushed the consensus price estimate to approximately $238.89, suggesting continued confidence in the company's future prospects.

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