JARISLOWSKY FRASER Ltd grew its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 728,668 shares of the Wireless communications provider's stock after purchasing an additional 17,256 shares during the period. JARISLOWSKY FRASER Ltd's holdings in TELUS were worth $9,875,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its stake in shares of TELUS by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider's stock valued at $1,197,000 after purchasing an additional 1,346 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of TELUS by 7.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider's stock valued at $294,000 after purchasing an additional 1,500 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in TELUS by 9.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider's stock valued at $291,000 after buying an additional 1,901 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in TELUS by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider's stock valued at $1,185,000 after buying an additional 2,840 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in TELUS by 20.4% in the 4th quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider's stock valued at $312,000 after buying an additional 3,900 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.
TELUS Stock Up 0.5%
NYSE TU traded up $0.08 during mid-day trading on Friday, hitting $15.78. The company's stock had a trading volume of 1,957,446 shares, compared to its average volume of 2,905,340. The company's 50 day simple moving average is $14.80 and its 200 day simple moving average is $14.83. TELUS Co. has a twelve month low of $13.24 and a twelve month 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 $23.89 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 5.18 and a beta of 0.73.
TELUS Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a $0.2989 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 annualized dividend and a yield of 7.58%. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is presently 234.69%.
Wall Street Analysts Forecast Growth
TU has been the subject of a number of research reports. 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 report on Monday. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a report on Monday. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $21.50.
Read Our Latest Stock Analysis on TELUS
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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