Swiss National Bank increased its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 31.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 0.13% of TELUS worth $28,885,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $130,000 after purchasing an additional 2,662 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of TELUS during the third quarter valued at approximately $208,000. Field & Main Bank bought a new position in shares of TELUS during the fourth quarter valued at approximately $216,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of TELUS during the fourth quarter valued at approximately $218,000. Finally, Wells Fargo & Company MN lifted its position 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 valued at $226,000 after acquiring an additional 1,833 shares during the last quarter. Hedge funds and other institutional investors own 55.23% of the company’s stock.
TU has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of TELUS from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Bank of America initiated coverage on shares of TELUS in a research report on Tuesday, November 21st. They set a “neutral” rating and a $39.00 target price for the company. Zacks Investment Research cut shares of TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. TD Securities raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, ValuEngine raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. TELUS presently has a consensus rating of “Buy” and an average price target of $45.14.
TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.02). The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. TELUS had a return on equity of 18.78% and a net margin of 10.94%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. sell-side analysts expect that TELUS Co. will post 2.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.402 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 4.48%. TELUS’s dividend payout ratio is currently 85.19%.
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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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