TELUS Co. (NYSE:TU) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 21.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,515,242 shares of the Wireless communications provider's stock after acquiring an additional 264,055 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.10% of TELUS worth $25,447,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TU. 1832 Asset Management L.P. raised its position in TELUS by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock worth $578,253,000 after buying an additional 2,365,753 shares during the last quarter. Fiera Capital Corp lifted its position in TELUS by 9.9% during the second quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock valued at $252,468,000 after purchasing an additional 1,501,742 shares during the period. TD Asset Management Inc boosted its holdings in TELUS by 3.0% in the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock valued at $631,310,000 after purchasing an additional 1,208,720 shares during the last quarter. Toronto Dominion Bank grew its position in TELUS by 5.4% during the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider's stock worth $188,835,000 after purchasing an additional 636,845 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of TELUS by 1.8% during the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider's stock valued at $338,953,000 after buying an additional 387,686 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

Shares of TU stock traded down $0.12 during mid-day trading on Friday, hitting $15.64. 1,119,152 shares of the stock were exchanged, compared to its average volume of 2,325,036. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.01. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. The company has a market cap of $23.46 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. The firm has a fifty day moving average of $15.86 and a 200 day moving average of $16.01.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the prior year, the firm posted $0.19 EPS. TELUS's quarterly revenue 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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.297 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.19 dividend on an annualized basis and a yield of 7.60%. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is currently 253.19%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TU. StockNews.com downgraded TELUS from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.00.

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.