Insider Buying: TELUS Co. (TSE:T) Director Acquires 100,000 Shares of Stock

TELUS Co. (TSE:T - Get Free Report) NYSE: TU Director Victor George Dodig bought 100,000 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of C$21.38 per share, with a total value of C$2,138,000.00.

TELUS Stock Up 1.1 %

Shares of T stock traded up C$0.24 during trading hours on Monday, reaching C$21.63. 3,533,858 shares of the company's stock were exchanged, compared to its average volume of 3,329,921. The stock's 50 day moving average is C$22.29 and its 200-day moving average is C$22.05. The company has a market cap of C$32.01 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58. TELUS Co. has a fifty-two week low of C$20.04 and a fifty-two week high of C$25.94.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.402 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from TELUS's previous quarterly dividend of $0.39. This represents a $1.61 dividend on an annualized basis and a dividend yield of 7.43%. TELUS's payout ratio is 294.34%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Canaccord Genuity Group downgraded TELUS from a "buy" rating to a "hold" rating and cut their target price for the company from C$23.00 to C$21.50 in a research note on Tuesday, August 6th. Cormark dropped their price target on TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. TD Securities dropped their price target on TELUS from C$26.00 to C$25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets raised their target price on TELUS from C$24.00 to C$25.00 in a report on Thursday, September 5th. Finally, Royal Bank of Canada decreased their target price on TELUS from C$26.00 to C$25.00 and set an "outperform" rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$24.46.

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.