TELUS Corporation (TU) Holdings Lifted by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 19.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,064 shares of the Wireless communications provider’s stock after purchasing an additional 12,126 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in TELUS Corporation were worth $2,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TU. PNC Financial Services Group Inc. grew its holdings in shares of TELUS Corporation by 237.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock worth $130,000 after acquiring an additional 2,662 shares during the period. Chicago Partners Investment Group LLC purchased a new position in shares of TELUS Corporation during the 2nd quarter worth approximately $156,000. OLD National Bancorp IN purchased a new position in shares of TELUS Corporation during the 3rd quarter worth approximately $208,000. Kassirer Asset Management Corp purchased a new position in shares of TELUS Corporation during the 2nd quarter worth approximately $209,000. Finally, Wells Fargo & Company MN grew its holdings in shares of TELUS Corporation by 38.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock worth $226,000 after acquiring an additional 1,833 shares during the period. 50.69% of the stock is owned by institutional investors and hedge funds.

Shares of TELUS Corporation (NYSE TU) opened at $37.97 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.55 and a quick ratio of 0.48. The firm has a market capitalization of $22,554.18, a P/E ratio of 19.08, a P/E/G ratio of 2.33 and a beta of 0.92. TELUS Corporation has a 52 week low of $30.81 and a 52 week high of $38.47.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 5.32%. This is an increase from TELUS Corporation’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 8th. TELUS Corporation’s dividend payout ratio (DPR) is currently 97.53%.

TU has been the topic of a number of research analyst reports. Zacks Investment Research downgraded TELUS Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 12th. Royal Bank Of Canada upgraded TELUS Corporation from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $47.00 to $51.00 in a research note on Friday, November 10th. Scotiabank upgraded TELUS Corporation from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, October 25th. Barclays PLC upped their price target on TELUS Corporation from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Morgan Stanley upped their price target on TELUS Corporation from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. TELUS Corporation presently has an average rating of “Buy” and an average target price of $46.17.

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TELUS Corporation 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.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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