Swiss National Bank Has $24.27 Million Stake in TELUS Corporation $TU

Swiss National Bank grew its position in TELUS Corporation (NYSE:TU) (TSE:T) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,517,065 shares of the Wireless communications provider’s stock after buying an additional 107,800 shares during the quarter. Swiss National Bank owned 0.10% of TELUS worth $24,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 667 shares during the last quarter. CWM LLC boosted its holdings in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TELUS in the 1st quarter valued at $134,000. Golden State Equity Partners bought a new position in shares of TELUS in the 2nd quarter valued at $161,000. Finally, Private Advisor Group LLC raised its holdings in shares of TELUS by 13.7% during the 1st quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock worth $189,000 after buying an additional 1,590 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Down 0.2%

Shares of NYSE TU opened at $12.96 on Wednesday. The firm has a 50 day moving average price of $14.95 and a two-hundred day moving average price of $15.76. The stock has a market cap of $19.89 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 6.66 and a beta of 0.71. TELUS Corporation has a 52-week low of $12.87 and a 52-week high of $16.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a return on equity of 8.76% and a net margin of 5.71%.The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be paid a $0.4184 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 annualized dividend and a dividend yield of 12.9%. TELUS’s payout ratio is currently 220.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on TU. Barclays decreased their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TELUS in a report on Wednesday, November 19th. Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $19.00 price target (down from $22.00) on shares of TELUS in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.17.

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.