Artemis Investment Management LLP Invests $36.72 Million in CenturyLink, Inc. (CTL)
Artemis Investment Management LLP acquired a new position in CenturyLink, Inc. (NYSE:CTL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,537,299 shares of the technology company’s stock, valued at approximately $36,718,000. Artemis Investment Management LLP owned approximately 0.28% of CenturyLink at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock valued at $1,102,321,000 after buying an additional 7,600,609 shares in the last quarter. State Street Corp raised its position in CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock valued at $734,384,000 after buying an additional 293,702 shares in the last quarter. American International Group Inc. raised its position in CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock valued at $375,817,000 after buying an additional 214,210 shares in the last quarter. Geode Capital Management LLC raised its position in CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock valued at $158,256,000 after buying an additional 613,038 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its position in CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock valued at $153,712,000 after buying an additional 3,383,155 shares in the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.
CenturyLink, Inc. (NYSE:CTL) opened at 19.72 on Friday. The company has a 50-day moving average price of $21.77 and a 200 day moving average price of $23.81. The stock has a market cap of $10.84 billion, a P/E ratio of 28.58 and a beta of 0.87. CenturyLink, Inc. has a 1-year low of $18.41 and a 1-year high of $33.45.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 10.95%. The ex-dividend date of this dividend is Thursday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 313.04%.
Several equities analysts have recently issued reports on CTL shares. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. UBS AG set a $29.00 target price on CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. BidaskClub lowered CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company upped their target price on CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Finally, Vetr raised CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 target price for the company in a report on Monday, May 8th. Five analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. CenturyLink currently has a consensus rating of “Hold” and a consensus target price of $26.15.
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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