Brookstone Capital Management reduced its position in CenturyLink, Inc. (NYSE:CTL) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,943 shares of the technology company’s stock after selling 24,782 shares during the period. Brookstone Capital Management’s holdings in CenturyLink were worth $5,204,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Endurance Wealth Management Inc. raised its position in shares of CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the last quarter. FNY Managed Accounts LLC bought a new position in shares of CenturyLink during the first quarter worth $120,000. Exane Derivatives raised its position in shares of CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the last quarter. First City Capital Management Inc. bought a new position in shares of CenturyLink during the first quarter worth $215,000. Finally, State of Alaska Department of Revenue bought a new position in shares of CenturyLink during the first quarter worth $200,000. 77.77% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink, Inc. (NYSE CTL) traded up 0.85% during midday trading on Friday, reaching $20.23. 6,529,342 shares of the company traded hands. The firm has a market capitalization of $11.12 billion, a PE ratio of 29.32 and a beta of 0.87. CenturyLink, Inc. has a 12-month low of $18.41 and a 12-month high of $33.45. The company has a 50-day moving average of $22.08 and a 200 day moving average of $23.93.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, equities analysts forecast that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 10.68%. CenturyLink’s dividend payout ratio is currently 313.04%.
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A number of equities analysts recently weighed in on the stock. UBS AG set a $29.00 target price on shares of CenturyLink and gave the stock a “buy” rating in a research note on Thursday, June 22nd. BidaskClub lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research note on Friday. Morgan Stanley reduced their target price on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, ValuEngine raised shares of CenturyLink from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.15.
About CenturyLink
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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