Gargoyle Investment Advisor L.L.C. lowered its stake in CenturyLink Inc. (NYSE:CTL) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 109,182 shares of the company’s stock after selling 3,000 shares during the period. CenturyLink accounts for about 1.2% of Gargoyle Investment Advisor L.L.C.’s portfolio, making the stock its 10th largest position. Gargoyle Investment Advisor L.L.C.’s holdings in CenturyLink were worth $3,168,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CTL. Acrospire Investment Management LLC bought a new stake in shares of CenturyLink during the first quarter worth approximately $109,000. Bessemer Group Inc. boosted its stake in shares of CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock worth $110,000 after buying an additional 1,062 shares during the period. Washington Trust Bank boosted its stake in shares of CenturyLink by 13.8% in the second quarter. Washington Trust Bank now owns 4,597 shares of the company’s stock worth $133,000 after buying an additional 558 shares during the period. Monetary Management Group Inc. boosted its stake in shares of CenturyLink by 4.0% in the first quarter. Monetary Management Group Inc. now owns 6,500 shares of the company’s stock worth $208,000 after buying an additional 250 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of CenturyLink during the first quarter worth approximately $221,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink Inc. (NYSE:CTL) traded down 0.33% during trading on Friday, hitting $27.43. The company had a trading volume of 3,363,364 shares. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 15.36 and a beta of 0.80. The stock has a 50-day moving average of $28.22 and a 200 day moving average of $29.40.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. CenturyLink’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. On average, analysts predict that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
A number of analysts have recently commented on the company. Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $31.00 to $27.00 in a research note on Monday, July 18th. Vetr raised CenturyLink from a “sell” rating to a “hold” rating and set a $29.67 price target for the company in a research note on Tuesday, July 12th. Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Macquarie assumed coverage on CenturyLink in a research note on Monday, July 11th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $31.00 price target (up from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. CenturyLink currently has a consensus rating of “Hold” and a consensus price target of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of CenturyLink stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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