Nationwide Fund Advisors reduced its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 39.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,564 shares of the technology company’s stock after selling 127,411 shares during the quarter. Nationwide Fund Advisors’ holdings in CenturyLink were worth $3,772,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CenturyLink by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after acquiring an additional 10,583,246 shares during the last quarter. Capital World Investors bought a new stake in CenturyLink during the 2nd quarter worth about $142,086,000. Standard Life Investments LTD bought a new stake in CenturyLink during the 2nd quarter worth about $112,613,000. Fiduciary Management Inc. WI bought a new stake in CenturyLink during the 2nd quarter worth about $86,411,000. Finally, Samlyn Capital LLC acquired a new position in CenturyLink during the 2nd quarter valued at about $80,290,000. Institutional investors own 82.32% of the company’s stock.
In related news, Director Virginia Boulet bought 5,095 shares of CenturyLink stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average cost of $15.48 per share, for a total transaction of $78,870.60. Following the completion of the acquisition, the director now directly owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William Bruce Hanks bought 10,000 shares of CenturyLink stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $14.41 per share, for a total transaction of $144,100.00. Following the completion of the acquisition, the insider now directly owns 58,722 shares of the company’s stock, valued at $846,184.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 150,595 shares of company stock worth $2,154,131. Company insiders own 0.61% of the company’s stock.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 in the prior year, the firm earned $0.56 EPS. The business’s revenue was down 7.9% on a year-over-year basis. equities analysts expect that CenturyLink, Inc. will post 1.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 12.71%. The ex-dividend date of this dividend was Friday, November 24th. CenturyLink’s dividend payout ratio (DPR) is currently 372.42%.
A number of research firms have issued reports on CTL. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Barclays dropped their target price on shares of CenturyLink from $23.00 to $19.00 and set an “underweight” rating on the stock in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and set a $22.00 price target on shares of CenturyLink in a research note on Tuesday, October 3rd. Deutsche Bank decreased their price target on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Finally, ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.87.
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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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