Vanguard Group Inc. lifted its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 22.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,351,163 shares of the technology company’s stock after purchasing an additional 10,583,246 shares during the period. Vanguard Group Inc. owned about 10.59% of CenturyLink worth $1,369,547,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of CTL. Endurance Wealth Management Inc. lifted its position in shares of CenturyLink by 18.5% during the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after purchasing an additional 725 shares during the last quarter. FNY Managed Accounts LLC bought a new position in shares of CenturyLink during the first quarter worth about $120,000. Exane Derivatives lifted its position in shares of CenturyLink by 27.6% during the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,436 shares during the last quarter. Greenleaf Trust bought a new position in shares of CenturyLink during the second quarter worth about $211,000. Finally, First City Capital Management Inc. bought a new position in shares of CenturyLink during the first quarter worth about $215,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.
CTL has been the topic of several research analyst reports. Cowen and Company increased their price target on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of CenturyLink from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Barclays PLC reduced their price target on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. Finally, Zacks Investment Research cut shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CenturyLink presently has an average rating of “Hold” and an average price target of $26.15.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm posted $0.63 earnings per share. CenturyLink’s revenue was down 7.0% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 11.65%. CenturyLink’s dividend payout ratio (DPR) is presently 313.04%.
CenturyLink Company Profile
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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