Charles Schwab Investment Management Inc. Has $26.07 Million Stake in TELUS Corporation $TU

Key Points

• Charles Schwab Investment Management Inc. increased its stake in TELUS Corporation by 9.1%, holding 1,817,792 shares valued at $26 million, after acquiring an additional 151,241 shares.
• TELUS recently reported a dividend increase to $0.3019 per share, boosting its annualized dividend yield to 7.3%, with the next payment scheduled for October 1st.
• Analysts have a consensus "Hold" rating for TELUS with a price target of $21.50, despite the company recently missing earnings estimates with a reported $0.16 earnings per share.

Charles Schwab Investment Management Inc. grew its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,817,792 shares of the Wireless communications provider's stock after purchasing an additional 151,241 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.12% of TELUS worth $26,069,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted 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 valued at $33,000 after purchasing an additional 971 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of TELUS by 112,425.0% in the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 4,497 shares in the last quarter. Trust Co. of Vermont lifted 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 valued at $121,000 after purchasing an additional 800 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of TELUS in the fourth quarter valued at $120,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of TELUS by 175.4% in the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock valued at $149,000 after purchasing an additional 6,624 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Up 0.2%

Shares of NYSE TU traded up $0.0350 during mid-day trading on Friday, reaching $16.5850. The company had a trading volume of 2,990,996 shares, compared to its average volume of 2,984,941. 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 stock has a market capitalization of $25.29 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 4.88 and a beta of 0.73. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.26. The stock's 50 day moving average is $16.23 and its 200-day moving average is $15.57.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.3%. TELUS's dividend payout ratio (DPR) is currently 263.04%.

Analysts Set New Price Targets

TU has been the topic of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Canaccord Genuity Group upped their price target 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. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, TELUS has a consensus rating of "Hold" and a consensus price target 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.