Gold Investment Management Ltd. Sells 1,527 Shares of TELUS Corporation $TU

Gold Investment Management Ltd. lowered its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 111,827 shares of the Wireless communications provider’s stock after selling 1,527 shares during the quarter. Gold Investment Management Ltd.’s holdings in TELUS were worth $1,796,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas grew its stake in TELUS by 5.6% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 50,333 shares of the Wireless communications provider’s stock worth $808,000 after acquiring an additional 2,671 shares in the last quarter. Truist Financial Corp grew its position in TELUS by 3.5% during the second quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock valued at $633,000 after buying an additional 1,331 shares during the period. Public Employees Retirement System of Ohio grew its position in TELUS by 272.1% during the second quarter. Public Employees Retirement System of Ohio now owns 396,131 shares of the Wireless communications provider’s stock valued at $6,361,000 after buying an additional 289,662 shares during the period. Golden State Equity Partners acquired a new stake in TELUS during the second quarter valued at $161,000. Finally, Walter Public Investments Inc. increased its stake in shares of TELUS by 2.0% during the second quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock worth $620,000 after purchasing an additional 765 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Trading Up 0.3%

Shares of TELUS stock opened at $15.83 on Thursday. The company has a fifty day simple moving average of $16.15 and a 200-day simple moving average of $15.73. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $16.77. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.60 and a beta of 0.71.

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

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were paid a dividend of $0.3019 per share. The ex-dividend date was Wednesday, September 10th. This represents a $1.21 dividend on an annualized basis and a yield of 7.6%. This is an increase from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio (DPR) is currently 263.04%.

Wall Street Analyst Weigh In

Separately, Scotiabank restated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average 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.