5 Stocks Dumb Money’s Steve Cohen Is Betting On Now

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Below is the list of the 5 Stocks Dumb Money’s Steve Cohen Is Betting On Now. For a detailed discussion about what Dumb Money’s Steve Cohen please see 15 Stocks Dumb Money’s Steve Cohen Is Betting On Now.

5. T-Mobile US, Inc. (NASDAQ:TMUS)

Value of Point72 Asset Management’s 13F Position: $356 million

Number of Hedge Fund Shareholders: 89

Dumb Money’s Steve Cohen firm lifted his stake in T-Mobile US, Inc. (NASDAQ:TMUS) by 49% during the second quarter to $356 million. Despite strong financial and operational performance, the company’s share price has underperformed so far in 2023. The company recently authorised an additional $19 billion in share buybacks, adding to its current $14 billion programme. Furthermore, the company declared its first dividend, totalling approximately $750M in the fourth quarter. The company expects to pay about $3 billion in total dividends in 2024, with prospects of increasing dividend payments by about 10% per year.

T-Mobile US, Inc. (NASDAQ:TMUS) was in 89 hedge fund portfolios as of the end of the second quarter compared to 90 positions in the previous quarter. 

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