Wealth Advisors of Tampa Bay LLC Has $3.88 Million Position in TELUS Co. (NYSE:TU)

Wealth Advisors of Tampa Bay LLC boosted its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,248 shares of the Wireless communications provider’s stock after acquiring an additional 4,619 shares during the quarter. TELUS accounts for about 1.8% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its 21st biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in TELUS were worth $3,880,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc raised its stake in TELUS by 3.0% during the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after acquiring an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of TELUS by 0.6% during the 1st quarter. 1832 Asset Management L.P. now owns 35,827,980 shares of the Wireless communications provider’s stock worth $573,606,000 after purchasing an additional 213,385 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in TELUS by 15.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock valued at $511,646,000 after purchasing an additional 3,860,487 shares during the last quarter. Vanguard Group Inc. boosted its position in TELUS by 2.6% in the first quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after buying an additional 602,440 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in TELUS by 5.8% during the fourth quarter. Bank of Nova Scotia now owns 22,881,520 shares of the Wireless communications provider’s stock worth $407,205,000 after buying an additional 1,250,827 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Trading Up 0.5 %

TU opened at $16.86 on Friday. The firm’s fifty day simple moving average is $16.23 and its 200 day simple moving average is $16.17. The stock has a market capitalization of $24.89 billion, a P/E ratio of 43.23, a P/E/G ratio of 2.57 and a beta of 0.74. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same quarter last year, the firm earned $0.14 EPS. As a group, research analysts anticipate that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 annualized dividend and a yield of 6.74%. TELUS’s dividend payout ratio is presently 294.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TU. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.33.

About TELUS

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.