Arrow Investment Advisors LLC lowered its position in shares of CenturyLink Inc. (NYSE:CTL) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,702 shares of the company’s stock after selling 3,092 shares during the period. Arrow Investment Advisors LLC’s holdings in CenturyLink were worth $572,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in shares of CenturyLink by 0.6% in the first quarter. State Street Corp now owns 30,716,866 shares of the company’s stock worth $981,706,000 after buying an additional 171,326 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in CenturyLink by 5.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 15,427,843 shares of the company’s stock worth $493,074,000 after buying an additional 792,193 shares in the last quarter. BlackRock Fund Advisors increased its stake in CenturyLink by 1.2% in the first quarter. BlackRock Fund Advisors now owns 14,794,988 shares of the company’s stock worth $472,848,000 after buying an additional 171,723 shares in the last quarter. American Century Companies Inc. increased its stake in CenturyLink by 5.8% in the second quarter. American Century Companies Inc. now owns 5,400,275 shares of the company’s stock worth $156,662,000 after buying an additional 296,143 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in CenturyLink by 11.9% in the first quarter. BlackRock Group LTD now owns 5,379,934 shares of the company’s stock worth $171,944,000 after buying an additional 572,227 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
CenturyLink Inc. (NYSE:CTL) traded down 1.60% during trading on Tuesday, reaching $27.08. 4,342,517 shares of the company’s stock traded hands. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 15.16 and a beta of 0.80. The company has a 50 day moving average of $28.07 and a 200 day moving average of $29.30.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Equities research analysts predict that CenturyLink Inc. will post $2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 7.98%. CenturyLink’s dividend payout ratio is currently 120.67%.
A number of research firms have recently weighed in on CTL. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $31.00 target price (up from $29.00) on shares of CenturyLink in a research report on Wednesday, August 10th. Macquarie reaffirmed a “neutral” rating and issued a $30.00 target price (down from $31.00) on shares of CenturyLink in a research report on Tuesday, September 13th. Vetr raised shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research report on Monday, August 8th. Zacks Investment Research downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. CenturyLink currently has an average rating of “Hold” and a consensus price target of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.
CenturyLink Company Profile
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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