Lido Advisors LLC Takes $3.06 Million Position in Centurylink Inc (CTL)
Lido Advisors LLC bought a new stake in Centurylink Inc (NYSE:CTL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 144,488 shares of the technology company’s stock, valued at approximately $3,063,000.
Several other hedge funds have also recently made changes to their positions in CTL. Evercore Wealth Management LLC raised its holdings in shares of Centurylink by 106.3% during the third quarter. Evercore Wealth Management LLC now owns 29,793 shares of the technology company’s stock worth $631,000 after purchasing an additional 15,350 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Centurylink by 8.6% during the third quarter. Epoch Investment Partners Inc. now owns 6,421,568 shares of the technology company’s stock worth $136,137,000 after purchasing an additional 510,062 shares during the period. Invictus RG acquired a new stake in shares of Centurylink during the third quarter worth $254,000. WEALTHFRONT Corp raised its holdings in shares of Centurylink by 4.9% during the third quarter. WEALTHFRONT Corp now owns 60,348 shares of the technology company’s stock worth $1,279,000 after purchasing an additional 2,820 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in shares of Centurylink by 856.6% during the third quarter. First Republic Investment Management Inc. now owns 313,755 shares of the technology company’s stock worth $6,651,000 after purchasing an additional 280,956 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
CTL stock opened at $17.85 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.78 and a current ratio of 0.78. Centurylink Inc has a fifty-two week low of $13.81 and a fifty-two week high of $24.20. The stock has a market capitalization of $19.29 billion, a P/E ratio of 12.14, a PEG ratio of -10.37 and a beta of 0.79.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 12.10%. Centurylink’s dividend payout ratio (DPR) is presently 146.94%.
A number of analysts have weighed in on CTL shares. Oppenheimer dropped their target price on shares of Centurylink from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, November 9th. Zacks Investment Research raised shares of Centurylink from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Monday, October 1st. Royal Bank of Canada increased their target price on shares of Centurylink to $27.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Hanson cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price on the stock. in a report on Wednesday, August 22nd. Finally, Moffett Nathanson reissued a “sell” rating and set a $23.00 target price on shares of Centurylink in a report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.92.
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CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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