Aviso Financial Inc. Purchases 37,518 Shares of TELUS Corporation $TU

Key Points

• Aviso Financial Inc. increased its stake in TELUS Corporation by 11.1%, owning 374,498 shares worth approximately $5.37 million after acquiring an additional 37,518 shares in the first quarter.
• TELUS declared a quarterly dividend of $0.3019, resulting in an annual yield of 7.4%, which is an increase from the previous dividend of $0.30.
• The company's recent quarterly earnings showed a net margin of 4.67% and revenue of $3.74 billion, surpassing analysts' estimates but reporting earnings per share of $0.16, slightly below the expected $0.17.

Aviso Financial Inc. lifted its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,498 shares of the Wireless communications provider's stock after buying an additional 37,518 shares during the period. Aviso Financial Inc.'s holdings in TELUS were worth $5,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TU. Farther Finance Advisors LLC raised its holdings in shares of TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares during the period. NBC Securities Inc. raised its holdings in shares of TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 4,497 shares during the period. Optiver Holding B.V. bought a new stake in shares of TELUS in the 4th quarter valued at about $120,000. Trust Co. of Vermont raised its holdings in shares of TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after purchasing an additional 800 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of TELUS in the 1st quarter valued at about $134,000. 49.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on TU shares. Canaccord Genuity Group increased their price target on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a report on Monday, May 12th. National Bankshares reissued a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Scotiabank reissued an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, TELUS currently has a consensus rating of "Hold" and an average price target of $21.50.

TELUS Stock Performance

Shares of TU traded up $0.01 during mid-day trading on Thursday, hitting $16.56. 2,056,958 shares of the company's stock were exchanged, compared to its average volume of 3,367,661. TELUS Corporation has a 52 week low of $13.24 and a 52 week high of $17.26. The stock's 50-day simple moving average is $16.21 and its 200-day simple moving average is $15.54. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 4.79 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72.

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

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.3019 per share. This is a boost from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS's payout ratio is 263.04%.

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.