AMP Capital Investors Ltd lessened its stake in shares of Centurylink Inc (NYSE:CTL) by 4.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 278,524 shares of the technology company’s stock after selling 13,135 shares during the period. AMP Capital Investors Ltd’s holdings in Centurylink were worth $5,190,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after purchasing an additional 5,421 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Centurylink by 118.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,482 shares in the last quarter. Archford Capital Strategies LLC acquired a new stake in shares of Centurylink in the 1st quarter worth $130,000. Private Capital Group LLC boosted its position in shares of Centurylink by 295.1% in the 1st quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock worth $144,000 after purchasing an additional 6,560 shares in the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in shares of Centurylink in the 1st quarter worth $150,000. 77.05% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on CTL. Jefferies Financial Group raised Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Morgan Stanley raised their price objective on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised Centurylink from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Moffett Nathanson reissued a “sell” rating and issued a $23.00 price objective on shares of Centurylink in a research report on Wednesday, August 22nd. Finally, Royal Bank of Canada raised their price objective on Centurylink to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $21.18.
Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. analysts forecast that Centurylink Inc will post 1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.16 dividend on an annualized basis and a yield of 9.50%. Centurylink’s dividend payout ratio (DPR) is 146.94%.
In related news, Director Glen F. Post III sold 150,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $22.00, for a total value of $3,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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