TELUS Corporation $TU Shares Sold by Anson Funds Management LP

Key Points

• Anson Funds Management LP reduced its holdings in TELUS Corporation by 33.3%, selling 50,000 shares and leaving it with a total of 100,000 shares worth $1,435,000.
• TELUS recently announced a quarterly dividend increase to $0.3019 per share, representing an annualized yield of 7.6% and a dividend payout ratio of 263.04%.
• Analysts have an average rating of "Hold" on TELUS stock, with a consensus price target of $21.50, following a mixed quarterly earnings report where EPS missed expectations.

Anson Funds Management LP trimmed its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the Wireless communications provider's stock after selling 50,000 shares during the quarter. Anson Funds Management LP's holdings in TELUS were worth $1,435,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after buying an additional 971 shares during the period. NBC Securities Inc. boosted its stake in TELUS by 112,425.0% in the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after acquiring an additional 4,497 shares in the last quarter. Trust Co. of Vermont boosted its stake in TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after acquiring an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TELUS in the first quarter valued at approximately $134,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of TELUS by 175.4% during the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock worth $149,000 after buying an additional 6,624 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, TELUS has a consensus rating of "Hold" and a consensus price target of $21.50.

TELUS Price Performance

TU traded down $0.08 on Tuesday, reaching $15.92. 1,206,054 shares of the company's stock were exchanged, compared to its average volume of 3,348,354. The stock has a market cap of $24.43 billion, a PE ratio of 34.60, a P/E/G ratio of 4.65 and a beta of 0.72. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.03. The stock's fifty day moving average price is $16.31 and its 200-day moving average price is $15.71. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. The ex-dividend date is Wednesday, September 10th. This is a boost from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 7.6%. TELUS's dividend payout ratio (DPR) is presently 260.87%.

About TELUS

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.