TELUS Corporation $TU Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,741,998 shares of the Wireless communications provider’s stock after acquiring an additional 535,183 shares during the quarter. Geode Capital Management LLC owned approximately 0.37% of TELUS worth $80,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TU. Flagship Harbor Advisors LLC acquired a new stake in TELUS during the fourth quarter worth about $33,000. State of Wyoming acquired a new stake in TELUS during the second quarter worth about $61,000. Employees Retirement System of Texas acquired a new stake in TELUS during the third quarter worth about $64,000. Northwestern Mutual Wealth Management Co. raised its stake in TELUS by 37.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in TELUS by 67.7% during the second quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock worth $140,000 after acquiring an additional 3,510 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

NYSE TU opened at $12.33 on Monday. TELUS Corporation has a 52 week low of $11.69 and a 52 week high of $16.74. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a market cap of $19.40 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 12.10 and a beta of 0.61. The company has a 50-day moving average price of $12.47 and a two-hundred day moving average price of $13.07.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. TELUS’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. Analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be issued a $0.4184 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.6%. TELUS’s dividend payout ratio (DPR) is 279.55%.

Analysts Set New Price Targets

Several research analysts have commented on TU shares. Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, TELUS has an average rating of “Hold” and an average price target of $16.33.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.