JPMorgan Chase & Co. Sells 934,389 Shares of TELUS Co. (NYSE:TU)

JPMorgan Chase & Co. decreased its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 21.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,421,231 shares of the Wireless communications provider's stock after selling 934,389 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.23% of TELUS worth $46,392,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its position 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 during the last quarter. Avior Wealth Management LLC grew its stake in shares of TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after buying an additional 4,548 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in TELUS during the fourth quarter worth $142,000. Triasima Portfolio Management inc. bought a new stake in TELUS during the fourth quarter worth $146,000. Finally, Orion Portfolio Solutions LLC lifted its stake in TELUS by 25.6% in the third quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock valued at $256,000 after acquiring an additional 3,110 shares during the last quarter. Institutional investors own 49.40% of the company's stock.

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TELUS Stock Performance

TU stock traded up $0.15 during mid-day trading on Friday, hitting $14.57. 4,639,881 shares of the company were exchanged, compared to its average volume of 2,849,616. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. The business has a 50 day simple moving average of $14.83 and a 200-day simple moving average of $15.00. 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 capitalization of $22.05 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period last year, the firm posted $0.10 EPS. On average, equities analysts forecast that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The firm 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 annualized dividend and a dividend yield of 7.77%. TELUS's dividend payout ratio (DPR) is presently 226.53%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TU shares. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a research report on Friday, December 13th. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Morgan Stanley assumed coverage on TELUS in a report on Monday, December 16th. They set an "equal weight" rating for the company. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold".

TELUS 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.