TELUS Corporation (NYSE:TU) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,335 shares of the Wireless communications provider’s stock after selling 2,933 shares during the quarter. M&T Bank Corp’s holdings in TELUS were worth $478,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TU. Farther Finance Advisors LLC boosted its holdings in shares of TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after buying an additional 971 shares during the period. NBC Securities Inc. increased its position in shares of TELUS by 112,425.0% during the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock worth $64,000 after purchasing an additional 4,497 shares in the last quarter. Trust Co. of Vermont increased its position in shares of TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 800 shares in the last quarter. Optiver Holding B.V. bought a new stake in TELUS during the 4th quarter worth about $120,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of TELUS by 175.4% in the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider’s stock valued at $149,000 after purchasing an additional 6,624 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

TELUS stock opened at $16.46 on Thursday. The stock has a market capitalization of $25.10 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 4.96 and a beta of 0.73. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $17.27. The stock’s 50 day moving average price is $16.12 and its two-hundred day moving average price is $15.15. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were 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 7.26%. The ex-dividend date was Tuesday, June 10th. TELUS’s dividend payout ratio (DPR) is currently 212.28%.

Analyst Ratings Changes

Several research analysts recently weighed in on TU shares. Bank of America lowered shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Canaccord Genuity Group boosted their target price on shares of TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research report on Monday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research note on Tuesday. Finally, National Bankshares reissued a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.