Swiss National Bank boosted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 31.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 762,500 shares of the Wireless communications provider’s stock after purchasing an additional 180,500 shares during the period. Swiss National Bank owned approximately 0.13% of TELUS worth $28,885,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in TELUS by 237.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock worth $130,000 after purchasing an additional 2,662 shares during the period. OLD National Bancorp IN purchased a new position in TELUS during the third quarter worth about $208,000. Field & Main Bank purchased a new position in TELUS during the fourth quarter worth about $216,000. Chevy Chase Trust Holdings Inc. purchased a new position in TELUS during the fourth quarter worth about $218,000. Finally, Wells Fargo & Company MN raised its stake in TELUS by 38.9% during the second quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock worth $226,000 after purchasing an additional 1,833 shares during the period. 55.23% of the stock is currently owned by institutional investors.
Shares of TELUS Co. (NYSE:TU) opened at $35.90 on Wednesday. The stock has a market cap of $21,690.02, a P/E ratio of 18.99, a PEG ratio of 2.12 and a beta of 0.89. TELUS Co. has a 52 week low of $31.42 and a 52 week high of $38.50. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a $0.402 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, March 8th. TELUS’s dividend payout ratio (DPR) is currently 85.19%.
TU has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of TELUS from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, November 17th. Bank of America initiated coverage on shares of TELUS in a research note on Tuesday, November 21st. They set a “neutral” rating and a $39.00 target price on the stock. Zacks Investment Research downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. TD Securities raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, ValuEngine raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $45.14.
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TELUS Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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