TELUS Corporation (TU) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 41.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 851,357 shares of the Wireless communications provider’s stock after selling 597,381 shares during the period. Goldman Sachs Group Inc. owned approximately 0.14% of TELUS Corporation worth $29,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TD Asset Management Inc. boosted its stake in TELUS Corporation by 1.9% in the 2nd quarter. TD Asset Management Inc. now owns 25,245,820 shares of the Wireless communications provider’s stock worth $870,297,000 after purchasing an additional 463,218 shares during the period. FMR LLC boosted its stake in TELUS Corporation by 1.3% in the 2nd quarter. FMR LLC now owns 21,678,829 shares of the Wireless communications provider’s stock worth $748,428,000 after purchasing an additional 279,046 shares during the period. CIBC Asset Management Inc boosted its stake in TELUS Corporation by 4.0% in the 2nd quarter. CIBC Asset Management Inc now owns 8,610,832 shares of the Wireless communications provider’s stock worth $296,931,000 after purchasing an additional 335,124 shares during the period. Great West Life Assurance Co. Can boosted its stake in TELUS Corporation by 12.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 7,486,696 shares of the Wireless communications provider’s stock worth $257,825,000 after purchasing an additional 806,613 shares during the period. Finally, Franklin Resources Inc. boosted its stake in TELUS Corporation by 73.8% in the 2nd quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after purchasing an additional 2,963,432 shares during the period. 50.82% of the stock is owned by hedge funds and other institutional investors.

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TU has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, July 14th. BidaskClub raised shares of TELUS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BMO Capital Markets upped their target price on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. Finally, Barclays PLC upped their target price on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.50.

TELUS Corporation (NYSE:TU) opened at 35.92 on Wednesday. TELUS Corporation has a 1-year low of $30.31 and a 1-year high of $36.94. The firm has a market capitalization of $21.34 billion, a P/E ratio of 20.90 and a beta of 0.89. The stock’s 50 day moving average is $36.00 and its 200-day moving average is $34.65.

TELUS Corporation (NYSE:TU) (TSE:T) last issued its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. Analysts forecast that TELUS Corporation will post $2.13 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.3884 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, September 7th. TELUS Corporation’s dividend payout ratio is currently 100.00%.

TELUS Corporation Profile

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.

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

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