Wells Fargo & Company MN lifted its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 38.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,544 shares of the Wireless communications provider’s stock after acquiring an additional 1,833 shares during the quarter. Wells Fargo & Company MN’s holdings in TELUS Corporation were worth $226,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in TELUS Corporation by 73.8% during the second quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after buying an additional 2,963,432 shares in the last quarter. AGF Investments Inc. boosted its holdings in TELUS Corporation by 3.1% during the second quarter. AGF Investments Inc. now owns 1,316,643 shares of the Wireless communications provider’s stock worth $45,480,000 after buying an additional 39,337 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in TELUS Corporation by 162.3% during the second quarter. JPMorgan Chase & Co. now owns 499,381 shares of the Wireless communications provider’s stock worth $17,239,000 after buying an additional 309,027 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in TELUS Corporation during the second quarter worth $5,054,000. Finally, Swiss National Bank boosted its holdings in TELUS Corporation by 1,203.4% during the second quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock worth $26,305,000 after buying an additional 704,000 shares in the last quarter. Hedge funds and other institutional investors own 50.62% of the company’s stock.

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TU has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of TELUS Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Scotiabank raised shares of TELUS Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 25th. Barclays PLC increased their price target on shares of TELUS Corporation from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Royal Bank Of Canada raised shares of TELUS Corporation from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $47.00 to $51.00 in a report on Friday, November 10th. Finally, BMO Capital Markets increased their price target on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. TELUS Corporation presently has a consensus rating of “Buy” and a consensus price target of $46.17.

TELUS Corporation (NYSE:TU) opened at $38.06 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.44. The stock has a market cap of $22,490.00, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. TELUS Corporation has a twelve month low of $30.96 and a twelve month high of $38.47.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 5.31%. This is an increase from TELUS Corporation’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 8th. TELUS Corporation’s dividend payout ratio (DPR) is presently 94.61%.

About TELUS Corporation

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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