68,040 Shares in TELUS Co. (TU) Purchased by Wealth Advisors of Tampa Bay LLC
Wealth Advisors of Tampa Bay LLC bought a new position in shares of TELUS Co. (NYSE:TU) (TSE:T) during the first quarter, Holdings Channel reports. The fund bought 68,040 shares of the Wireless communications provider’s stock, valued at approximately $2,520,000. TELUS accounts for approximately 1.8% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 23rd biggest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of TU. Van ECK Associates Corp acquired a new position in TELUS in the 4th quarter valued at about $25,000. Proficio Capital Partners LLC increased its position in TELUS by 199.7% in the 4th quarter. Proficio Capital Partners LLC now owns 959 shares of the Wireless communications provider’s stock valued at $32,000 after acquiring an additional 639 shares during the period. Financial Gravity Companies Inc. acquired a new position in TELUS in the 4th quarter valued at about $38,000. Oppenheimer Asset Management Inc. acquired a new position in TELUS in the 4th quarter valued at about $51,000. Finally, Enlightenment Research LLC acquired a new position in TELUS in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 51.32% of the company’s stock.
Several brokerages recently issued reports on TU. Zacks Investment Research cut TELUS from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. TheStreet raised TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Barclays reaffirmed a “buy” rating and issued a $41.00 price objective on shares of TELUS in a report on Sunday, May 12th. Finally, Bank of America reaffirmed a “hold” rating on shares of TELUS in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.00.
TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. TELUS had a return on equity of 16.98% and a net margin of 11.15%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that TELUS Co. will post 2.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be issued a $0.4191 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from TELUS’s previous quarterly dividend of $0.41. TELUS’s payout ratio is currently 77.10%.
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TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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