Capital Research Global Investors Sells 598,018 Shares of TELUS Co. (NYSE:TU)

Capital Research Global Investors decreased its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,729,180 shares of the Wireless communications provider's stock after selling 598,018 shares during the period. Capital Research Global Investors owned approximately 0.92% of TELUS worth $186,150,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TU. Barclays PLC increased its holdings in TELUS by 38.5% in the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after buying an additional 129,934 shares in the last quarter. Geode Capital Management LLC raised its position in TELUS by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider's stock worth $40,238,000 after acquiring an additional 177,953 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of TELUS in the third quarter valued at about $320,000. Versant Capital Management Inc increased its stake in shares of TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after purchasing an additional 1,951 shares in the last quarter. Finally, Centre Asset Management LLC purchased a new stake in TELUS in the 4th quarter valued at approximately $6,946,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold".

TELUS Trading Down 0.4 %

NYSE:TU traded down $0.06 on Thursday, hitting $15.04. 1,746,222 shares of the stock were exchanged, compared to its average volume of 2,859,358. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The stock has a fifty day moving average of $14.87 and a 200-day moving average of $14.92. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The stock has a market cap of $22.77 billion, a PE ratio of 30.69, a PEG ratio of 5.18 and a beta of 0.70.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities analysts expect that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were paid a $0.2829 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.52%. TELUS's dividend payout ratio is currently 226.53%.

About TELUS

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.