CenturyLink, Inc. (CTL) Holdings Reduced by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. lowered its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,724 shares of the technology company’s stock after selling 288 shares during the quarter. First Allied Advisory Services Inc.’s holdings in CenturyLink were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its position in shares of CenturyLink by 38.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,819,654 shares of the technology company’s stock worth $66,459,000 after buying an additional 782,886 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of CenturyLink by 104.2% in the 1st quarter. Sei Investments Co. now owns 89,089 shares of the technology company’s stock valued at $2,100,000 after buying an additional 45,453 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of CenturyLink in the 1st quarter valued at $221,000. Pacer Advisors Inc. boosted its holdings in shares of CenturyLink by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 10,042 shares of the technology company’s stock valued at $237,000 after buying an additional 329 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of CenturyLink by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 24,011 shares of the technology company’s stock valued at $566,000 after buying an additional 444 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors.
Shares of CenturyLink, Inc. (NYSE CTL) opened at 19.32 on Tuesday. The firm’s 50-day moving average price is $19.45 and its 200-day moving average price is $23.06. CenturyLink, Inc. has a 52-week low of $18.17 and a 52-week high of $33.45. The firm has a market capitalization of $10.62 billion, a PE ratio of 28.00 and a beta of 0.89.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts predict that CenturyLink, Inc. will post $1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date of this dividend was Thursday, August 31st. CenturyLink’s dividend payout ratio is presently 313.04%.
A number of equities research analysts recently weighed in on CTL shares. ValuEngine raised shares of CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. UBS AG set a $29.00 price objective on shares of CenturyLink and gave the company a “buy” rating in a research note on Thursday, June 22nd. BidaskClub lowered CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company raised their price objective on CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. Finally, Morgan Stanley dropped their price objective on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. CenturyLink has an average rating of “Hold” and an average price target of $26.15.
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CenturyLink Company Profile
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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