CIBC Private Wealth Group LLC Has $284,000 Stock Holdings in TELUS Co. (NYSE:TU)

CIBC Private Wealth Group LLC raised its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 1,532.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,410 shares of the Wireless communications provider's stock after purchasing an additional 19,160 shares during the period. CIBC Private Wealth Group LLC's holdings in TELUS were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TU. Cerity Partners LLC grew its holdings in TELUS by 7.5% during the third quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider's stock valued at $710,000 after purchasing an additional 2,964 shares during the last quarter. FMR LLC boosted its position in shares of TELUS by 192.0% in the third quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock valued at $22,257,000 after acquiring an additional 872,235 shares during the period. BNP Paribas Financial Markets boosted its position in shares of TELUS by 188.7% in the third quarter. BNP Paribas Financial Markets now owns 135,825 shares of the Wireless communications provider's stock valued at $2,279,000 after acquiring an additional 88,771 shares during the period. Public Sector Pension Investment Board boosted its position in shares of TELUS by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider's stock valued at $1,297,000 after acquiring an additional 1,500 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of TELUS by 69.2% in the third quarter. Wellington Management Group LLP now owns 256,506 shares of the Wireless communications provider's stock valued at $4,308,000 after acquiring an additional 104,939 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Stock Performance

TU stock traded up $0.25 during midday trading on Thursday, hitting $14.32. The stock had a trading volume of 1,643,858 shares, compared to its average volume of 2,810,372. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 5.18 and a beta of 0.70. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The stock has a 50-day simple moving average of $14.84 and a 200 day simple moving average of $15.03. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, equities research analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.2829 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 annualized dividend and a yield of 7.90%. TELUS's dividend payout ratio is currently 226.53%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TU shares. Morgan Stanley started coverage on TELUS in a research report on Monday, December 16th. They issued an "equal weight" rating for the company. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Finally, National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a research report on Friday, December 13th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.