AMP Capital Investors Ltd trimmed its holdings in Centurylink Inc (NYSE:CTL) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 278,524 shares of the technology company’s stock after selling 13,135 shares during the quarter. AMP Capital Investors Ltd’s holdings in Centurylink were worth $5,190,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of CTL. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Centurylink by 16,940.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after buying an additional 5,421 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Centurylink by 118.4% in the second quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after buying an additional 3,482 shares during the period. Archford Capital Strategies LLC purchased a new stake in shares of Centurylink in the first quarter worth approximately $130,000. Private Capital Group LLC raised its holdings in shares of Centurylink by 295.1% in the first quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock worth $144,000 after buying an additional 6,560 shares during the period. Finally, Fairfield Bush & CO. purchased a new stake in shares of Centurylink in the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 77.05% of the company’s stock.
Shares of NYSE:CTL opened at $22.74 on Friday. Centurylink Inc has a 52-week low of $13.16 and a 52-week high of $24.20. The company has a market capitalization of $24.79 billion, a P/E ratio of 15.47, a PEG ratio of -14.27 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.60.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. Centurylink’s revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. equities research analysts predict that Centurylink Inc will post 1.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.16 annualized dividend and a yield of 9.50%. Centurylink’s dividend payout ratio (DPR) is presently 146.94%.
Several brokerages have recently weighed in on CTL. Zacks Investment Research downgraded Centurylink from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 24th. Citigroup increased their price target on Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Barclays reissued a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a research note on Friday, August 10th. Finally, Morgan Stanley increased their price objective on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Centurylink has an average rating of “Hold” and a consensus target price of $21.18.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $22.00, for a total transaction of $3,300,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.
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.
Read More: What is a Tariff?
Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.