Assetmark Inc. trimmed its position in shares of CenturyLink, Inc. (NYSE:CTL) by 23.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 517,683 shares of the technology company’s stock after selling 161,113 shares during the quarter. Assetmark Inc. owned 0.09% of CenturyLink worth $9,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of CTL. Cornerstone Investment Partners LLC raised its holdings in CenturyLink by 22.9% in the third quarter. Cornerstone Investment Partners LLC now owns 74,228 shares of the technology company’s stock worth $1,403,000 after purchasing an additional 13,825 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of CenturyLink by 31.4% in the third quarter. AE Wealth Management LLC now owns 55,169 shares of the technology company’s stock worth $1,043,000 after buying an additional 13,187 shares during the period. Reaves W H & Co. Inc. raised its stake in shares of CenturyLink by 55.9% in the third quarter. Reaves W H & Co. Inc. now owns 2,449,268 shares of the technology company’s stock worth $46,291,000 after buying an additional 877,985 shares during the period. Sowell Financial Services LLC raised its stake in CenturyLink by 12.7% during the 3rd quarter. Sowell Financial Services LLC now owns 94,206 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 10,580 shares during the period. Finally, SG Americas Securities LLC raised its stake in CenturyLink by 329.4% during the 3rd quarter. SG Americas Securities LLC now owns 539,282 shares of the technology company’s stock valued at $10,192,000 after purchasing an additional 413,705 shares during the period. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
CenturyLink, Inc. (CTL) traded up $0.26 during midday trading on Thursday, reaching $14.10. 46,283,931 shares of the company’s stock traded hands, compared to its average volume of 10,835,089. CenturyLink, Inc. has a 1 year low of $13.16 and a 1 year high of $27.61. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $15,382.95, a price-to-earnings ratio of 7.42, a P/E/G ratio of -4.50 and a beta of 0.79.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business earned $0.56 EPS. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. sell-side analysts expect that CenturyLink, Inc. will post 1.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 15.32%. The ex-dividend date is Friday, November 24th. CenturyLink’s dividend payout ratio is 372.42%.
A number of research firms have issued reports on CTL. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and set a $25.00 price objective on shares of CenturyLink in a report on Monday, September 18th. Zacks Investment Research cut CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Morgan Stanley decreased their target price on CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co reiterated a “buy” rating and set a $26.00 price target on shares of CenturyLink in a research report on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.07.
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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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