Wetherby Asset Management Inc. increased its holdings in Centurylink Inc (NYSE:CTL) by 31.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,024 shares of the technology company’s stock after purchasing an additional 4,538 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Centurylink were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Coastal Investment Advisors Inc. lifted its holdings in Centurylink by 563.7% in the second quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after buying an additional 1,866 shares during the period. Cornerstone Advisors Inc. lifted its holdings in Centurylink by 68.7% in the third quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after buying an additional 838 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in Centurylink by 54.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after buying an additional 1,000 shares during the period. AGF Investments LLC purchased a new stake in Centurylink in the second quarter worth about $38,000. Finally, NEXT Financial Group Inc lifted its holdings in Centurylink by 279.8% in the second quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after buying an additional 2,725 shares during the period. 73.51% of the stock is currently owned by institutional investors.
CTL has been the subject of several research analyst reports. Wells Fargo & Co raised their price objective on shares of Centurylink from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Centurylink in a report on Friday, September 13th. ValuEngine upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Guggenheim lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Centurylink presently has a consensus rating of “Hold” and an average target price of $13.16.
Shares of CTL stock traded down $0.09 during trading hours on Friday, hitting $14.79. 16,441,503 shares of the company’s stock traded hands, compared to its average volume of 10,665,462. The stock’s fifty day simple moving average is $12.53 and its two-hundred day simple moving average is $11.65. Centurylink Inc has a 12-month low of $9.64 and a 12-month high of $21.50. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.98 and a beta of 0.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.53.
Centurylink (NYSE:CTL) last released its earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. Centurylink’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Centurylink Inc will post 1.35 earnings per share for the current fiscal year.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
Featured Story: Capital gains and your 401(k) or IRA
Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centurylink Inc (NYSE:CTL).
Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.