TELUS Co. (NYSE:TU) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in TELUS Co. (NYSE:TU) (TSE:T) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,653 shares of the Wireless communications provider’s stock after selling 3,100 shares during the period. Shell Asset Management Co.’s holdings in TELUS were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TU. Avior Wealth Management LLC raised its stake in TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock worth $65,000 after acquiring an additional 4,548 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of TELUS during the fourth quarter worth about $120,000. Blueshift Asset Management LLC purchased a new position in shares of TELUS during the fourth quarter worth about $142,000. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS during the fourth quarter worth about $146,000. Finally, Legal & General Group Plc purchased a new stake in shares of TELUS in the 4th quarter valued at about $190,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Up 0.5%

Shares of TELUS stock opened at $15.78 on Friday. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The company has a market cap of $23.89 billion, a P/E ratio of 32.20, a PEG ratio of 5.18 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a fifty day moving average of $14.81 and a two-hundred day moving average of $14.82.

TELUS Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lowered TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. 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. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Finally, Cormark lowered TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, TELUS has an average rating of “Hold” and an average target price of $21.50.

TELUS 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.