Concert Wealth Management Inc. Boosts Position in CenturyLink Inc. (CTL)
Concert Wealth Management Inc. boosted its position in CenturyLink Inc. (NYSE:CTL) by 29.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,139 shares of the company’s stock after buying an additional 11,016 shares during the period. Concert Wealth Management Inc.’s holdings in CenturyLink were worth $1,401,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new position in CenturyLink during the first quarter worth $36,414,000. Bank of Montreal Can purchased a new position in CenturyLink during the second quarter worth $28,172,000. AXA purchased a new position in CenturyLink during the first quarter worth $27,892,000. Old Mutual Global Investors UK Ltd. raised its position in CenturyLink by 57.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,355,625 shares of the company’s stock worth $68,336,000 after buying an additional 857,345 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position 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 during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Shares of CenturyLink Inc. (NYSE:CTL) traded up 3.52% during midday trading on Friday, hitting $27.92. 9,487,983 shares of the stock traded hands. The company’s 50 day moving average price is $27.85 and its 200-day moving average price is $29.24. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 15.63 and a beta of 0.80.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm earned $440 billion during the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, equities research analysts expect that CenturyLink Inc. will post $2.53 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 8.01%. CenturyLink’s dividend payout ratio is currently 120.67%.
A number of equities analysts have weighed in on CTL shares. Morgan Stanley lowered shares of CenturyLink from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $27.00 in a research report on Monday, July 18th. Macquarie started coverage on shares of CenturyLink in a research report on Monday, July 11th. They issued a “neutral” rating and a $31.00 price target for the company. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a research report on Tuesday. Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price for the company in a research report on Wednesday, August 31st. Finally, Evercore ISI started coverage on shares of CenturyLink in a research report on Tuesday, June 21st. They set a “hold” rating and a $28.00 target price for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $28.37.
In related news, Director Harvey P. Perry sold 20,000 shares of CenturyLink stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.
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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