Gold Investment Management Ltd. lifted its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 27.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,354 shares of the Wireless communications provider's stock after buying an additional 24,620 shares during the quarter. Gold Investment Management Ltd.'s holdings in TELUS were worth $1,626,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of TU. JCIC Asset Management Inc. raised its holdings in shares of TELUS by 8.0% in the first quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock worth $155,000 after acquiring an additional 795 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after acquiring an additional 800 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock worth $33,000 after acquiring an additional 971 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider's stock worth $1,197,000 after purchasing an additional 1,346 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of TELUS by 7.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider's stock worth $294,000 after buying an additional 1,500 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on TU. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a report on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $21.50.
Check Out Our Latest Analysis on TELUS
TELUS Trading Down 0.7%
NYSE TU traded down $0.12 during trading hours on Friday, hitting $15.82. 3,554,926 shares of the company's stock were exchanged, compared to its average volume of 2,970,330. The business's 50 day moving average is $15.80 and its 200-day moving average is $14.94. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.27. The firm has a market capitalization of $24.13 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 4.99 and a beta of 0.74. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64.
TELUS Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.56%. TELUS's dividend payout ratio is 212.28%.
TELUS Profile
(
Free Report)
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.
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