Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Karpas Strategies LLC

Karpas Strategies LLC cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,850 shares of the technology company’s stock after selling 2,000 shares during the period. Lumen Technologies comprises approximately 3.4% of Karpas Strategies LLC’s holdings, making the stock its 10th largest holding. Karpas Strategies LLC owned approximately 0.06% of Lumen Technologies worth $8,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUMN. Temasek Holdings Private Ltd bought a new stake in Lumen Technologies during the 4th quarter worth approximately $948,279,000. BlackRock Inc. bought a new stake in Lumen Technologies during the 4th quarter worth approximately $887,794,000. First Trust Advisors LP bought a new stake in Lumen Technologies during the 4th quarter worth approximately $203,139,000. Dimensional Fund Advisors LP bought a new stake in Lumen Technologies during the 4th quarter worth approximately $194,805,000. Finally, Northern Trust Corp bought a new stake in Lumen Technologies during the 4th quarter worth approximately $107,812,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

NYSE:LUMN traded up $0.27 on Friday, hitting $14.43. 7,505,150 shares of the stock were exchanged, compared to its average volume of 13,390,666. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $15.95 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 2.62 and a beta of 1.08. The company’s 50-day moving average price is $13.15 and its 200 day moving average price is $11.68. Lumen Technologies, Inc. has a 52 week low of $8.51 and a 52 week high of $16.60.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Wednesday, May 5th. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Lumen Technologies had a return on equity of 12.10% and a net margin of 6.05%. As a group, equities research analysts predict that Lumen Technologies, Inc. will post 1.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Monday, March 8th were paid a $0.25 dividend. The ex-dividend date was Friday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.93%. Lumen Technologies’s dividend payout ratio (DPR) is presently 75.76%.

In other news, Director Virginia Boulet sold 6,500 shares of the company’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $14.22, for a total value of $92,430.00. Following the completion of the sale, the director now directly owns 76,529 shares of the company’s stock, valued at approximately $1,088,242.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

LUMN has been the subject of a number of recent research reports. Morgan Stanley downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating in a research report on Thursday, January 28th. Zacks Investment Research raised Lumen Technologies from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, February 16th. Oppenheimer reissued a “buy” rating and set a $16.00 price objective on shares of Lumen Technologies in a report on Tuesday, February 9th. Finally, TheStreet cut Lumen Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Lumen Technologies presently has a consensus rating of “Hold” and a consensus price target of $13.03.

Lumen Technologies Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated services and solutions under CenturyLink name to business and residential customers in the United States and internationally. The company operates through five segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

Further Reading: Debt-To-Equity Ratio

Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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