Alps Advisors Inc. Has $43.21 Million Position in CenturyLink, Inc. (CTL)
Alps Advisors Inc. reduced its position in shares of CenturyLink, Inc. (NYSE:CTL) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,809,455 shares of the technology company’s stock after selling 240,861 shares during the period. Alps Advisors Inc.’s holdings in CenturyLink were worth $43,210,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Endurance Wealth Management Inc. increased its position in shares of CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of CenturyLink during the first quarter worth approximately $120,000. Exane Derivatives increased its position in shares of CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the period. Ledyard National Bank increased its position in shares of CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock worth $173,000 after buying an additional 7,243 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of CenturyLink during the first quarter worth approximately $200,000. 77.77% of the stock is owned by institutional investors.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 20.54 on Wednesday. The firm has a market cap of $11.29 billion, a PE ratio of 29.77 and a beta of 0.87. CenturyLink, Inc. has a 1-year low of $20.53 and a 1-year high of $33.45. The stock’s 50 day moving average is $22.99 and its 200-day moving average is $24.23.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. CenturyLink’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
A number of research analysts have recently commented on CTL shares. Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a research report on Tuesday, May 9th. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price objective for the company in a research report on Monday, May 1st. Zacks Investment Research raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, April 26th. UBS AG set a $29.00 price objective on shares of CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, BidaskClub downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.22.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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