TELUS Corporation (TU) Shares Sold by AGF Investments Inc.
AGF Investments Inc. lessened its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,146,854 shares of the Wireless communications provider’s stock after selling 169,789 shares during the period. AGF Investments Inc. owned approximately 0.19% of TELUS worth $41,251,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of TELUS by 237.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock valued at $130,000 after buying an additional 2,662 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of TELUS in the second quarter valued at approximately $156,000. OLD National Bancorp IN bought a new stake in shares of TELUS in the third quarter valued at approximately $208,000. Kassirer Asset Management Corp bought a new stake in shares of TELUS in the second quarter valued at approximately $209,000. Finally, Wells Fargo & Company MN boosted its stake in shares of TELUS by 38.9% in the second quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock valued at $226,000 after buying an additional 1,833 shares during the period. Institutional investors own 50.62% of the company’s stock.
TELUS Corporation (NYSE:TU) traded up $0.14 during midday trading on Monday, reaching $38.25. The company’s stock had a trading volume of 164,300 shares, compared to its average volume of 414,583. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.44. TELUS Corporation has a 12-month low of $31.18 and a 12-month high of $38.47. The company has a market capitalization of $22,660.00, a PE ratio of 19.22, a PEG ratio of 2.36 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.505 per share. The ex-dividend date is Friday, December 8th. This is a boost from TELUS’s previous quarterly dividend of $0.39. This represents a $2.02 annualized dividend and a yield of 5.28%. TELUS’s dividend payout ratio is presently 94.61%.
Several brokerages recently issued reports on TU. BidaskClub cut TELUS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Morgan Stanley boosted their price target on TELUS from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. Bank of America Corporation began coverage on TELUS in a research note on Tuesday, November 21st. They issued a “neutral” rating and a $39.00 price target for the company. Barclays PLC boosted their price target on TELUS from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Finally, BMO Capital Markets boosted their price target on TELUS from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $45.14.
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TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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