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TELUS Corporation (NYSE:TU) Shares Sold by TD Asset Management Inc

TELUS logo with Utilities background

Key Points

  • TD Asset Management Inc reduced its stake in TELUS Corporation by 5.3%, selling over 2 million shares and holding approximately 36.4 million shares, worth around $522 million.
  • Various institutional investors have increased their stakes in TELUS, with Cetera Investment Advisers leading the way by raising its position by 54.9% in the first quarter.
  • TELUS has increased its quarterly dividend to $0.2989, representing a 7.26% yield, despite a high dividend payout ratio of 212.28%.
  • Five stocks to consider instead of TELUS.

TD Asset Management Inc trimmed its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,410,309 shares of the Wireless communications provider's stock after selling 2,035,513 shares during the period. TD Asset Management Inc owned 2.40% of TELUS worth $522,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 971 shares during the period. NBC Securities Inc. increased its stake in 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 in the last quarter. Trust Co. of Vermont increased its stake in 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 in the last quarter. Optiver Holding B.V. purchased a new stake in TELUS during the 4th quarter worth approximately $120,000. Finally, TD Private Client Wealth LLC increased its stake in 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 in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on TU. Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Canaccord Genuity Group boosted their target price on 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. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, TELUS has a consensus rating of "Hold" and a consensus price target of $21.50.

Get Our Latest Analysis on TELUS

TELUS Trading Down 0.5%

TU traded down $0.09 during trading hours on Wednesday, reaching $16.17. The company's stock had a trading volume of 928,142 shares, compared to its average volume of 3,397,133. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26. The stock has a market cap of $24.65 billion, a PE ratio of 28.36, a P/E/G ratio of 4.92 and a beta of 0.73. The business's 50-day moving average is $16.24 and its 200-day moving average is $15.33. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were issued a $0.2989 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 7.40%. TELUS's dividend payout ratio is currently 212.28%.

About TELUS

(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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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