Chevy Chase Trust Holdings Inc. Increases Stake in CenturyLink, Inc. (CTL)
Chevy Chase Trust Holdings Inc. lifted its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 479,352 shares of the technology company’s stock after purchasing an additional 6,117 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.09% of CenturyLink worth $9,060,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC grew its holdings in CenturyLink by 178.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after buying an additional 4,285 shares in the last quarter. Blue Granite Capital LLC bought a new position in CenturyLink in the 3rd quarter worth approximately $136,000. Tower Research Capital LLC TRC bought a new position in CenturyLink in the 2nd quarter worth approximately $197,000. IFC Holdings Incorporated FL bought a new position in CenturyLink in the 3rd quarter worth approximately $201,000. Finally, WealthPLAN Partners LLC grew its holdings in CenturyLink by 5,660.0% in the 2nd quarter. WealthPLAN Partners LLC now owns 8,640 shares of the technology company’s stock worth $206,000 after buying an additional 8,490 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
A number of equities analysts recently issued reports on the company. Barclays raised CenturyLink from an “underweight” rating to an “equal weight” rating and set a $19.00 price objective for the company in a report on Friday. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Royal Bank of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of CenturyLink in a report on Monday, September 18th. Zacks Investment Research lowered CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Morgan Stanley decreased their price objective on CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.07.
CenturyLink, Inc. (CTL) opened at $16.81 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $17,905.80, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of -5.24 and a beta of 0.79. CenturyLink, Inc. has a one year low of $13.16 and a one year high of $27.61.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. equities research analysts predict that CenturyLink, Inc. will post 1.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 12.85%. The ex-dividend date of this dividend was Friday, November 24th. CenturyLink’s payout ratio is currently 372.42%.
In related news, Director Virginia Boulet acquired 5,095 shares of CenturyLink stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $15.48 per share, with a total value of $78,870.60. Following the purchase, the director now directly owns 42,820 shares in the company, valued at approximately $662,853.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey K. Storey acquired 71,000 shares of CenturyLink stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $14.30 per share, with a total value of $1,015,300.00. Following the completion of the purchase, the chief operating officer now owns 2,498,668 shares in the company, valued at $35,730,952.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 150,595 shares of company stock valued at $2,154,131. 0.61% of the stock is currently owned by corporate insiders.
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CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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