TELUS Co. (NYSE:TU) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 8.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,564 shares of the Wireless communications provider’s stock after selling 2,817 shares during the period. Advisors Asset Management Inc.’s holdings in TELUS were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TU. Tidal Investments LLC increased its position in shares of TELUS by 85.8% during the first quarter. Tidal Investments LLC now owns 19,540 shares of the Wireless communications provider’s stock worth $313,000 after purchasing an additional 9,024 shares in the last quarter. Virtu Financial LLC increased its position in shares of TELUS by 20.8% during the first quarter. Virtu Financial LLC now owns 25,524 shares of the Wireless communications provider’s stock worth $409,000 after purchasing an additional 4,394 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of TELUS during the first quarter worth about $213,000. Cardinal Capital Management Inc. increased its position in shares of TELUS by 2.5% during the second quarter. Cardinal Capital Management Inc. now owns 342,059 shares of the Wireless communications provider’s stock worth $5,175,000 after purchasing an additional 8,483 shares in the last quarter. Finally, Value Partners Investments Inc. increased its position in shares of TELUS by 12.7% during the second quarter. Value Partners Investments Inc. now owns 15,265 shares of the Wireless communications provider’s stock worth $231,000 after purchasing an additional 1,716 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TU. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.00.

TELUS Price Performance

Shares of TU opened at $15.49 on Thursday. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14. The stock’s 50 day moving average is $15.99 and its two-hundred day moving average is $16.05. The firm has a market capitalization of $23.23 billion, a PE ratio of 32.95, a P/E/G ratio of 2.23 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is currently 244.69%.

TELUS Company 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.