Toronto Dominion Bank Has $165.60 Million Position in TELUS Co. (NYSE:TU)

Toronto Dominion Bank reduced its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 20.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,868,744 shares of the Wireless communications provider's stock after selling 2,603,866 shares during the period. Toronto Dominion Bank owned approximately 0.66% of TELUS worth $165,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Fairscale Capital LLC bought a new stake in shares of TELUS during the 2nd quarter valued at $27,000. Blue Trust Inc. increased its holdings in TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after buying an additional 954 shares during the period. Acadian Asset Management LLC acquired a new position in shares of TELUS in the 2nd quarter valued at approximately $123,000. Trust Co. of Vermont lifted its holdings in shares of TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 1,218 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of TELUS during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

Shares of NYSE:TU traded down $0.22 during trading on Wednesday, hitting $15.26. 2,256,896 shares of the company were exchanged, compared to its average volume of 2,344,920. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $18.68. The company has a market capitalization of $22.89 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. 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 business's 50 day moving average is $15.82 and its 200-day moving average is $16.00.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the company earned $0.19 earnings per share. The business's quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Wednesday, December 11th will be given a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is 253.19%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TU. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. StockNews.com lowered TELUS from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.00.

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.