Cardinal Capital Management 13F: Exits T-Mobile US (TMUS) Stake

Cardinal Capital Management completely sold its stake in T-Mobile US, Inc. (TMUS) as disclosed in a filing on October 16, 2026. The fund cut its position by 1,937 shares, reducing its holdings to zero. This represented a 100% decrease in their investment value, which was about $307,000 based on recent market prices.

Other Institutional Activity in T-Mobile US, Inc.

Several other large investors also made moves regarding T-Mobile. Blackrock Inc. increased its holdings by 383,340 shares, bringing its total to 39,499,642 shares valued at roughly $6.28 billion. Invesco Ltd. added 646,603 shares, totaling 31,883,463 shares worth about $5.07 billion. On the other hand, Vanguard Capital Management reduced its holdings by 365,623 shares, resulting in a total of 29,359,860 shares valued at about $4.67 billion. Price (T. Rowe) Associates cut its stake by 3,011,774 shares, now holding 25,481,834 shares worth approximately $4.05 billion. State Street Corporation grew its position by 1,302,189 shares, totaling 25,021,478 shares worth around $3.98 billion.

T-Mobile US, Inc. Stock Up 0.7%

As of October 16, 2026, T-Mobile's stock was recently trading at $158.88, which is below its 50-day moving average of $173.25, down about 8.3%. The stock is also below its 200-day moving average of $189.48, about 16.1% lower. Additionally, the shares are down approximately 31.1% from their 52-week high of $230.54, while remaining 7.4% above their 52-week low of $147.90.

Recent Earnings

T-Mobile reported a trailing twelve-month revenue of approximately $92.19 billion with a net margin of 11.5% and an ROE of 18.0%. The company has shown a revenue growth of 7.9% year-over-year. The next earnings report is set for October 28, 2026.

Insider Buying and Selling at T-Mobile US, Inc.

Insider transactions included Andre Almeida, an officer, who bought 5,097 shares at an average price of $196.18 on May 1, 2026. Jon Freier, the COO, sold 4,799 shares at $190.00 on May 21, 2026. Srikant Datar purchased 1,384 shares at no reported price on June 16, 2026, while Daniel James Drobac, another officer, sold 772 shares at an average price of $178.33 on September 10, 2026.

Analysts Set New Price Targets

Analysts have maintained positive ratings on T-Mobile. On September 21, 2026, JP Morgan kept an Overweight rating with a target price of $260. Barclays also maintained an Overweight rating with a target of $200 on September 29, 2026. Scotiabank reiterated its Sector Outperform rating on October 9, 2026, with a slightly lowered target of $212.

About T-Mobile US, Inc.

T-Mobile US, Inc., based in Bellevue, WA, provides wireless communications services in the U.S., Puerto Rico, and the U.S. Virgin Islands. It offers voice, messaging, and data services to a variety of customers. The recent moves by institutional investors may reflect broader market sentiments on the telecom sector as a whole.

Bottom Line

Investors should keep an eye on T-Mobile's upcoming earnings report on October 28, 2026, for insights into its financial performance. Cardinal Capital's exit from TMUS is part of a broader trend of institutional adjustments during this quarter. As always, remember that 13F filings show past holdings and may not represent current positions.