TELUS Corporation (NYSE:TU – Get Free Report) (TSE:T) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.50.
Several research analysts recently issued reports on the stock. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Finally, Canaccord Genuity Group increased their price objective on TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a research report on Monday, May 12th.
Get Our Latest Stock Analysis on TELUS
TELUS Stock Down 1.2%
TELUS Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be paid a $0.2989 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.51%. The ex-dividend date is Tuesday, June 10th. TELUS’s dividend payout ratio (DPR) is presently 212.28%.
Hedge Funds Weigh In On TELUS
Several hedge funds have recently bought and sold shares of TU. Farther Finance Advisors LLC increased its stake in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 971 shares in the last quarter. NBC Securities Inc. increased its position in TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock worth $64,000 after buying an additional 4,497 shares in the last quarter. Optiver Holding B.V. purchased a new position in TELUS during the fourth quarter worth $120,000. Trust Co. of Vermont increased its position in TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after buying an additional 800 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in TELUS during the first quarter worth $134,000. 49.40% of the stock is owned by hedge funds and other institutional investors.
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.
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