TELUS Corporation $TU Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,529,471 shares of the Wireless communications provider’s stock after purchasing an additional 780,607 shares during the period. Geode Capital Management LLC owned about 0.30% of TELUS worth $76,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TU. Blue Trust Inc. boosted its holdings in shares of TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after buying an additional 667 shares during the period. CWM LLC lifted its holdings in TELUS by 169.6% in the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 2,301 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in TELUS in the first quarter valued at approximately $134,000. Golden State Equity Partners acquired a new position in TELUS in the second quarter valued at approximately $161,000. Finally, Private Advisor Group LLC grew its holdings in shares of TELUS by 13.7% during the first quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock valued at $189,000 after purchasing an additional 1,590 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Trading Down 0.7%

Shares of TU stock opened at $13.28 on Friday. TELUS Corporation has a 1 year low of $13.24 and a 1 year high of $16.74. The firm has a market capitalization of $20.38 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 6.82 and a beta of 0.71. The stock has a fifty day moving average of $15.07 and a two-hundred day moving average of $15.79. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. TELUS’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. As a group, research analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be paid a $0.4184 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.6%. This is an increase from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio (DPR) is currently 220.00%.

Analysts Set New Price Targets

Several analysts recently issued reports on TU shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $19.00 price target (down previously from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TELUS in a research report on Wednesday. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a report on Wednesday. Finally, Barclays lowered their price target on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.17.

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.