TELUS Co. (NYSE:TU) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 52.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 390,142 shares of the Wireless communications provider's stock after purchasing an additional 133,636 shares during the period. Wellington Management Group LLP's holdings in TELUS were worth $5,287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position in TELUS by 38.5% in the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after buying an additional 129,934 shares during the last quarter. Groesbeck Investment Management Corp NJ purchased a new stake in shares of TELUS in the 4th quarter valued at approximately $331,000. Leo Wealth LLC purchased a new position in shares of TELUS during the 4th quarter worth approximately $279,000. Tobam boosted its position in shares of TELUS by 38.4% during the 4th quarter. Tobam now owns 81,001 shares of the Wireless communications provider's stock worth $1,098,000 after purchasing an additional 22,486 shares during the period. Finally, Triasima Portfolio Management inc. acquired a new stake in TELUS in the 4th quarter valued at approximately $146,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Down 0.2%

Shares of NYSE TU traded down $0.03 during midday trading on Thursday, hitting $16.39. 1,988,489 shares of the company's stock were exchanged, compared to its average volume of 2,928,702. The firm's fifty day simple moving average is $15.23 and its 200-day simple moving average is $14.88. The company has a market cap of $24.81 billion, a PE ratio of 33.44, a P/E/G ratio of 5.18 and a beta of 0.74. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.30%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is presently 201.75%.

Analysts Set New Price Targets

A number of research firms have commented on TU. Wall Street Zen upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Canaccord Genuity Group upped their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.50.

TELUS Company 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.