Cetera Investment Advisers Boosts Holdings in TELUS Corporation $TU

Key Points

• Cetera Investment Advisers increased its stake in TELUS Corporation by 54.9%, acquiring an additional 16,046 shares in the first quarter, bringing its total holdings to 45,258 shares valued at $649,000.
• TELUS recently announced a quarterly dividend of $0.3019 per share, representing a 7.4% yield and an increase from its previous dividend of $0.30.
• Despite reporting a slight earnings miss of $0.16 per share compared to the consensus estimate of $0.17, TELUS's revenue for the quarter was up 2.2% year-over-year.

Cetera Investment Advisers raised its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 54.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,258 shares of the Wireless communications provider's stock after acquiring an additional 16,046 shares during the quarter. Cetera Investment Advisers' holdings in TELUS were worth $649,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TU. Farther Finance Advisors LLC raised its stake in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock worth $33,000 after buying an additional 971 shares during the last quarter. NBC Securities Inc. raised its stake in shares of TELUS by 112,425.0% during the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after buying an additional 4,497 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of TELUS during the 4th quarter worth $120,000. Trust Co. of Vermont raised its stake in shares of TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after buying an additional 800 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of TELUS by 175.4% during the 1st 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 last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

TU stock traded up $0.0450 during trading on Wednesday, hitting $16.5350. The stock had a trading volume of 3,363,378 shares, compared to its average volume of 3,015,698. The company's 50 day moving average price is $16.21 and its two-hundred day moving average price is $15.54. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 35.95, a price-to-earnings-growth ratio of 4.79 and a beta of 0.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86.

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

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.3019 dividend. This is a positive change from TELUS's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. This represents a $1.21 annualized dividend and a yield of 7.3%. TELUS's dividend payout ratio (DPR) is presently 263.04%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Canaccord Genuity Group lifted their price target on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $21.50.

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.