Sigma Planning Corp grew its stake in shares of Centurylink Inc (NYSE:CTL) by 132.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,336 shares of the technology company’s stock after purchasing an additional 40,123 shares during the period. Sigma Planning Corp’s holdings in Centurylink were worth $1,311,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Centurylink by 0.5% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 826,766 shares of the technology company’s stock valued at $15,411,000 after purchasing an additional 4,225 shares during the period. First Trust Advisors LP boosted its position in shares of Centurylink by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 3,365,895 shares of the technology company’s stock valued at $62,740,000 after purchasing an additional 271,147 shares during the period. TCW Group Inc. boosted its position in shares of Centurylink by 202.8% in the 2nd quarter. TCW Group Inc. now owns 65,558 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 43,905 shares during the period. Assetmark Inc. boosted its position in shares of Centurylink by 2.6% in the 2nd quarter. Assetmark Inc. now owns 715,273 shares of the technology company’s stock valued at $13,333,000 after purchasing an additional 18,190 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in Centurylink during the 2nd quarter worth about $35,437,000. Institutional investors own 76.95% of the company’s stock.
In other news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.
Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 44.3% on a year-over-year basis. sell-side analysts predict that Centurylink Inc will post 1.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 10.11%. Centurylink’s dividend payout ratio is currently 146.94%.
A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Jefferies Financial Group raised Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Macquarie downgraded Centurylink from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. Finally, Moffett Nathanson reissued a “sell” rating and set a $23.00 price objective on shares of Centurylink in a report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Centurylink has a consensus rating of “Hold” and an average target price of $21.18.
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.
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