CenturyLink Inc. (CTL) Shares Bought by Concert Wealth Management Inc.
Concert Wealth Management Inc. raised its position in CenturyLink Inc. (NYSE:CTL) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also made changes to their positions in the company. Kalos Management Inc. purchased a new position in shares of CenturyLink during the second quarter worth $2,685,000. Tocqueville Asset Management L.P. increased its position in shares of CenturyLink by 1.1% in the second quarter. Tocqueville Asset Management L.P. now owns 85,854 shares of the company’s stock worth $2,491,000 after buying an additional 941 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of CenturyLink during the second quarter worth $201,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of CenturyLink by 1.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 42,731 shares of the company’s stock worth $1,239,000 after buying an additional 601 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of CenturyLink during the second quarter worth $903,000. 73.31% of the stock is currently owned by institutional investors and hedge funds.
CenturyLink Inc. (NYSE:CTL) traded up 0.97% during midday trading on Wednesday, reaching $28.17. 1,439,642 shares of the company traded hands. The firm has a 50-day moving average price of $27.54 and a 200-day moving average price of $28.99. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 15.77 and a beta of 0.80.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The company had revenue of $440 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. Equities analysts predict that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
Several equities analysts have commented on CTL shares. RBC Capital Markets reiterated a “sector perform” rating and issued a $31.00 price objective (up from $29.00) on shares of CenturyLink in a report on Wednesday, August 10th. Macquarie reiterated a “neutral” rating and issued a $30.00 price objective (down from $31.00) on shares of CenturyLink in a report on Tuesday, September 13th. Vetr upgraded shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a report on Monday, August 8th. Zacks Investment Research downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Royal Bank Of Canada upped their price objective on shares of CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.44.
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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