CenturyLink, Inc. (CTL) Holdings Trimmed by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,523,382 shares of the technology company’s stock after selling 6,130 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of CenturyLink worth $28,792,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CenturyLink by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after acquiring an additional 10,583,246 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CenturyLink by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock valued at $231,404,000 after acquiring an additional 301,671 shares during the period. Northern Trust Corp raised its stake in shares of CenturyLink by 1.4% in the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after acquiring an additional 95,821 shares during the period. Capital World Investors purchased a new position in shares of CenturyLink in the 2nd quarter valued at $142,086,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of CenturyLink by 5.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock valued at $118,801,000 after acquiring an additional 244,347 shares during the period. 82.32% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on CTL. BidaskClub downgraded shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Jefferies Group LLC cut their target price on shares of CenturyLink to $17.00 and set a “hold” rating on the stock in a research note on Thursday, November 9th. J P Morgan Chase & Co reissued a “buy” rating and issued a $26.00 target price on shares of CenturyLink in a research note on Thursday, November 9th. Oppenheimer Holdings, Inc. cut their target price on shares of CenturyLink from $28.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Finally, UBS AG cut their target price on shares of CenturyLink from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. CenturyLink has an average rating of “Hold” and a consensus price target of $23.07.
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Shares of CenturyLink, Inc. (NYSE:CTL) opened at $14.34 on Friday. CenturyLink, Inc. has a one year low of $14.06 and a one year high of $27.61. The stock has a market cap of $15,329.50, a price-to-earnings ratio of 7.39, a P/E/G ratio of -4.46 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.
CenturyLink (NYSE:CTL) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm earned $0.56 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. analysts expect that CenturyLink, Inc. will post 1.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 15.06%. The ex-dividend date of this dividend is Friday, November 24th. CenturyLink’s dividend payout ratio (DPR) is 372.42%.
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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