TELUS Corporation (NYSE:TU) Shares Purchased by Cetera Investment Advisers

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 lifted its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 54.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new stake in TELUS during the first quarter valued at $206,000. Ameriprise Financial Inc. grew its position in TELUS by 25.6% during the fourth quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock valued at $7,249,000 after buying an additional 107,806 shares during the period. Northern Trust Corp grew its position in TELUS by 41.9% during the fourth quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock valued at $10,570,000 after buying an additional 230,234 shares during the period. Bank of New York Mellon Corp lifted its holdings in TELUS by 39.7% during the first quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider's stock valued at $9,336,000 after purchasing an additional 185,020 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in TELUS during the fourth quarter valued at $190,000. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TU. Canaccord Genuity Group increased their price objective 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 reaffirmed a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.50.

TELUS Price Performance

Shares of NYSE:TU traded up $0.13 during midday trading on Friday, hitting $16.39. The company's stock had a trading volume of 2,502,812 shares, compared to its average volume of 3,146,346. The business's 50 day simple moving average is $16.19 and its 200 day simple moving average is $15.51. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market cap of $24.99 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 4.76 and a beta of 0.73. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.26.

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 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 during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. This represents a $1.21 dividend on an annualized basis and a yield of 7.4%. This is a boost from TELUS's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS's payout ratio is presently 263.04%.

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.