TELUS Co. (NYSE:TU) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 9.7% during the 4th quarter, Holdings Channel reports. The institutional investor 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’s holdings in TELUS were worth $10,411,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Optiver Holding B.V. purchased a new position in shares of TELUS in the fourth quarter worth $120,000. Blueshift Asset Management LLC acquired a new stake in TELUS during the 4th quarter worth about $142,000. Triasima Portfolio Management inc. acquired a new stake in TELUS during the 4th quarter worth about $146,000. Legal & General Group Plc purchased a new stake in TELUS during the 4th quarter valued at about $190,000. Finally, Bayesian Capital Management LP acquired a new position in shares of TELUS in the fourth quarter valued at about $202,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Up 1.1%

TELUS stock opened at $16.37 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The business’s 50-day moving average price is $15.09 and its 200 day moving average price is $14.86. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 7.30%. TELUS’s dividend payout ratio is 201.75%.

Analyst Ratings Changes

A number of research firms recently commented on TU. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a report on Monday, May 12th. Canaccord Genuity Group lifted 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. Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Bank of America lowered shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.50.

About TELUS

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.