TELUS Co. (NYSE:TU) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lessened its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,445,822 shares of the Wireless communications provider's stock after selling 2,271,430 shares during the period. TD Asset Management Inc. owned approximately 2.56% of TELUS worth $521,005,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted 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 acquiring an additional 1,951 shares during the last quarter. Avior Wealth Management LLC increased its stake in TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after buying an additional 4,548 shares during the period. Blueshift Asset Management LLC bought a new stake in TELUS during the 4th quarter valued at about $142,000. Triasima Portfolio Management inc. bought a new stake in TELUS during the 4th quarter valued at about $146,000. Finally, Orion Portfolio Solutions LLC boosted its position in TELUS by 25.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock valued at $256,000 after buying an additional 3,110 shares during the period. Hedge funds and other institutional investors own 49.40% of the company's stock.

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TELUS Stock Down 0.1 %

NYSE TU traded down $0.02 during midday trading on Friday, hitting $14.27. 3,138,877 shares of the company traded hands, compared to its average volume of 2,750,162. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The company's 50-day simple moving average is $14.87 and its 200-day simple moving average is $15.20. The company has a market cap of $21.61 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 5.18 and a beta of 0.72. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $3.85 billion for 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 in the previous year, the firm earned $0.10 earnings per share. As a group, equities research analysts forecast that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. This represents a $1.13 annualized dividend and a yield of 7.93%. The ex-dividend date is Tuesday, March 11th. TELUS's dividend payout ratio is currently 226.53%.

Analysts Set New Price Targets

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