Mercer Global Advisors Inc. ADV Has $198,000 Holdings in TELUS Co. (NYSE:TU)

Mercer Global Advisors Inc. ADV lessened its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 38.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,595 shares of the Wireless communications provider’s stock after selling 9,221 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in TELUS were worth $198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its position in TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider’s stock valued at $1,197,000 after purchasing an additional 1,346 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of TELUS by 7.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider’s stock worth $294,000 after buying an additional 1,500 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of TELUS by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider’s stock worth $1,185,000 after buying an additional 2,840 shares during the period. Ingalls & Snyder LLC grew its position in shares of TELUS by 20.4% during the 4th quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider’s stock worth $312,000 after buying an additional 3,900 shares during the period. Finally, Mirabaud Asset Management Ltd grew its position in shares of TELUS by 7.1% during the 4th quarter. Mirabaud Asset Management Ltd now owns 60,344 shares of the Wireless communications provider’s stock worth $812,000 after buying an additional 3,986 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

Shares of TU opened at $15.78 on Friday. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $17.27. The business’s fifty day moving average is $14.81 and its 200 day moving average is $14.82. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The stock has a market cap of $23.89 billion, a P/E ratio of 32.20, a P/E/G ratio of 5.18 and a beta of 0.73.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a $0.2989 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS’s dividend payout ratio (DPR) is currently 234.69%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Canaccord Genuity Group raised their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a research report on Monday, May 12th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Finally, Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.50.

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.