TELUS Corporation (TU) Holdings Lowered by Swiss National Bank

Swiss National Bank trimmed its position in TELUS Corporation (NYSE:TU) (TSE:T) by 23.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 582,000 shares of the Wireless communications provider’s stock after selling 180,500 shares during the quarter. Swiss National Bank owned approximately 97,979.80% of TELUS Corporation worth $20,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of TELUS Corporation by 237.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock worth $130,000 after buying an additional 2,662 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of TELUS Corporation in the second quarter worth about $156,000. OLD National Bancorp IN acquired a new position in shares of TELUS Corporation in the third quarter worth about $208,000. Kassirer Asset Management Corp acquired a new position in shares of TELUS Corporation in the second quarter worth about $209,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of TELUS Corporation by 38.9% in the second quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock worth $226,000 after buying an additional 1,833 shares during the period. Institutional investors own 50.69% of the company’s stock.

Several brokerages have commented on TU. BMO Capital Markets raised their target price on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. BidaskClub cut shares of TELUS Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Morgan Stanley raised their price target on shares of TELUS Corporation from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays PLC raised their price target on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Finally, Scotiabank upgraded shares of TELUS Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.17.

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Shares of TELUS Corporation (TU) opened at $37.97 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.44. The company has a market cap 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 fifty-two week low of $30.81 and a fifty-two 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 $0.505 dividend. The ex-dividend date of this dividend is Friday, December 8th. This is a boost from TELUS Corporation’s previous quarterly dividend of $0.39. This represents a $2.02 dividend on an annualized basis and a yield of 5.32%. TELUS Corporation’s payout ratio is 97.53%.

About TELUS Corporation

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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