TELUS Corporation $TU Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,764,954 shares of the Wireless communications provider’s stock after buying an additional 1,566,983 shares during the quarter. CIBC Asset Management Inc owned 1.22% of TELUS worth $295,645,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Parvin Asset Management LLC bought a new position in TELUS during the 2nd quarter valued at $27,000. Farther Finance Advisors LLC raised its stake in shares of TELUS by 35.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 759 shares in the last quarter. Blue Trust Inc. lifted its position in shares of TELUS by 26.1% during the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 667 shares during the last quarter. CWM LLC lifted its position in shares of TELUS by 169.6% during the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 2,301 shares during the last quarter. Finally, State of Wyoming acquired a new position in TELUS in the second quarter worth about $61,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

Shares of TU opened at $13.87 on Friday. TELUS Corporation has a 12 month low of $12.54 and a 12 month high of $16.74. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.76 and a quick ratio of 0.71. The stock has a fifty day moving average price of $13.18 and a 200 day moving average price of $14.88. The company has a market cap of $21.46 billion, a P/E ratio of 25.21, a PEG ratio of 2.09 and a beta of 0.66.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). TELUS had a net margin of 5.71% and a return on equity of 8.76%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Thursday, December 11th were issued a $0.4184 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a yield of 12.1%. TELUS’s dividend payout ratio is currently 216.36%.

Analysts Set New Price Targets

TU has been the topic of several research reports. National Bankshares restated an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. Natl Bk Canada raised TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Citigroup upgraded TELUS to a “buy” rating in a research note on Thursday, December 4th. Barclays decreased their price objective on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.17.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.