UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 82,256 Shares of TELUS Co. (NYSE:TU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 767,792 shares of the Wireless communications provider's stock after selling 82,256 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of TELUS worth $10,411,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in shares of 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 purchasing an additional 129,934 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TELUS by 25.6% during the fourth quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock worth $7,249,000 after purchasing an additional 107,806 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of TELUS by 4.6% during the fourth quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider's stock worth $1,623,000 after buying an additional 5,286 shares during the last quarter. Northern Trust Corp grew its holdings in shares of TELUS by 41.9% during the fourth quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock worth $10,570,000 after buying an additional 230,234 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in TELUS by 2.7% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the Wireless communications provider's stock valued at $3,790,000 after purchasing an additional 7,447 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Price Performance

TU stock traded down $0.01 during mid-day trading on Wednesday, hitting $16.39. The stock had a trading volume of 2,563,920 shares, compared to its average volume of 2,932,464. The firm has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $14.88. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $24.81 billion, a P/E ratio of 33.45, a P/E/G ratio of 5.18 and a beta of 0.74.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders 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 represents a $1.20 annualized dividend and a dividend yield of 7.29%. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is 201.75%.

Analyst Upgrades and Downgrades

TU has been the subject of several research reports. Bank of America downgraded TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Canaccord Genuity Group raised their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Wall Street Zen raised shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus 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.