Wealthfront Advisers LLC lessened its holdings in Centurylink Inc (NYSE:CTL) by 32.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,807 shares of the technology company’s stock after selling 38,525 shares during the quarter. Wealthfront Advisers LLC’s holdings in Centurylink were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of CTL. Norges Bank purchased a new position in Centurylink in the 4th quarter worth $120,981,000. Dimensional Fund Advisors LP raised its position in Centurylink by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock worth $223,688,000 after purchasing an additional 1,587,647 shares during the period. Wells Fargo & Company MN raised its position in Centurylink by 82.4% in the 1st quarter. Wells Fargo & Company MN now owns 3,151,845 shares of the technology company’s stock worth $37,790,000 after purchasing an additional 1,423,837 shares during the period. Millennium Management LLC raised its position in Centurylink by 29.8% in the 4th quarter. Millennium Management LLC now owns 5,762,976 shares of the technology company’s stock worth $87,309,000 after purchasing an additional 1,323,554 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Centurylink by 48.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,482,962 shares of the technology company’s stock worth $41,761,000 after purchasing an additional 1,138,049 shares during the period. Institutional investors own 74.33% of the company’s stock.
CTL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Centurylink from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, March 13th. Guggenheim upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a research report on Thursday, May 9th. Moffett Nathanson upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $12.00 in a research report on Tuesday, February 19th. Finally, UBS Group cut shares of Centurylink from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $14.00 in a research report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.58.
Centurylink stock traded down $0.09 during trading hours on Friday, reaching $11.06. The stock had a trading volume of 197,239 shares, compared to its average volume of 13,727,029. The firm has a market cap of $12.06 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.72. Centurylink Inc has a 52 week low of $9.64 and a 52 week high of $24.20. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.68.
Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.71 billion. Centurylink had a negative net margin of 34.62% and a positive return on equity of 6.89%. The company’s revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that Centurylink Inc will post 1.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date is Friday, May 31st. Centurylink’s dividend payout ratio (DPR) is presently 84.03%.
In other news, CFO Indraneel Dev purchased 15,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $9.81 per share, with a total value of $147,150.00. Following the acquisition, the chief financial officer now directly owns 471,053 shares in the company, valued at $4,621,029.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Harvey P. Perry bought 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $10.92 per share, for a total transaction of $109,200.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 142,000 shares of company stock worth $1,455,160. Insiders own 0.50% of the company’s stock.
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CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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