Swiss National Bank Has $20.23 Million Holdings in TELUS Corporation (NYSE:TU)

Key Points

• The Swiss National Bank decreased its holdings in TELUS Corporation by 1.3%, selling 19,000 shares to hold a total of 1,409,265 shares, valued at approximately $20.2 million.
• TELUS announced a quarterly dividend increase to $0.3019 per share, representing an annualized dividend of $1.21 and a yield of 7.5%.
• Recent earnings reports showed TELUS missed the analysts' EPS estimate of $0.17, registering $0.16 instead, while revenue surpassed expectations at $3.74 billion.

Swiss National Bank lowered its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,409,265 shares of the Wireless communications provider's stock after selling 19,000 shares during the quarter. Swiss National Bank owned about 0.09% of TELUS worth $20,228,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TU. Mackenzie Financial Corp raised its holdings in shares of TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after purchasing an additional 9,068,181 shares during the last quarter. Man Group plc raised its holdings in shares of TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock valued at $28,463,000 after purchasing an additional 850,876 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of TELUS by 4.7% in the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider's stock valued at $266,146,000 after purchasing an additional 831,282 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TELUS by 29.8% in the fourth quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider's stock valued at $42,389,000 after purchasing an additional 696,744 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in shares of TELUS in the first quarter valued at approximately $8,937,000. Institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

TU stock traded up $0.13 during midday trading on Friday, reaching $16.39. 2,502,812 shares of the company were exchanged, compared to its average volume of 3,161,434. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. The business has a 50-day moving average price of $16.19 and a two-hundred day moving average price of $15.51. TELUS Corporation has a one year low of $13.24 and a one year high of $17.26. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 4.76 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the firm earned $0.25 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast 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 paid a $0.3019 dividend. This represents a $1.21 annualized dividend and a dividend yield of 7.4%. This is a boost from TELUS's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. TELUS's dividend payout ratio is currently 260.87%.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Canaccord Genuity Group boosted their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. Finally, National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, TELUS presently has an average rating of "Hold" and a consensus target price 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.