Private Advisor Group LLC raised its position in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 53.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 70,800 shares of the technology company's stock after purchasing an additional 24,745 shares during the period. Private Advisor Group LLC's holdings in Lumen Technologies were worth $773,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lumen Technologies by 2.4% in the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company's stock valued at $1,308,871,000 after acquiring an additional 2,726,090 shares in the last quarter. BlackRock Inc. lifted its position in shares of Lumen Technologies by 2.4% in the first quarter. BlackRock Inc. now owns 97,635,941 shares of the technology company's stock valued at $1,100,357,000 after acquiring an additional 2,332,996 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lumen Technologies by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 19,521,559 shares of the technology company's stock valued at $220,024,000 after acquiring an additional 417,651 shares in the last quarter. Invesco Ltd. lifted its position in shares of Lumen Technologies by 24.1% in the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company's stock valued at $169,230,000 after acquiring an additional 2,919,199 shares in the last quarter. Finally, ACR Alpine Capital Research LLC lifted its position in shares of Lumen Technologies by 33.1% in the first quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company's stock valued at $157,029,000 after acquiring an additional 3,466,092 shares in the last quarter. Institutional investors and hedge funds own 79.02% of the company's stock.
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Lumen Technologies Stock Performance
Shares of NYSE:LUMN opened at $7.78 on Tuesday. The firm has a market capitalization of $8.05 billion, a PE ratio of 4.01 and a beta of 1.07. The company has a debt-to-equity ratio of 2.29, a current ratio of 2.04 and a quick ratio of 2.04. The business has a 50-day moving average of $9.92 and a two-hundred day moving average of $10.71. Lumen Technologies, Inc. has a 12 month low of $7.27 and a 12 month high of $14.49.
Lumen Technologies (NYSE:LUMN – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.60 billion. Lumen Technologies had a return on equity of 17.14% and a net
margin of 10.49%. As a group, research analysts forecast that Lumen Technologies, Inc. will post 1.56 earnings per share for the current year.
Lumen Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.00 annualized dividend and a yield of 12.85%. Lumen Technologies's dividend payout ratio is presently 51.55%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Lumen Technologies in a research report on Friday, August 5th. They issued an "underweight" rating and a $10.00 price objective on the stock. Moffett Nathanson reduced their target price on Lumen Technologies to $6.00 in a research report on Thursday, September 29th. Royal Bank of Canada increased their target price on Lumen Technologies from $10.00 to $11.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 11th. Finally, TheStreet downgraded Lumen Technologies from a "b" rating to a "c" rating in a research report on Monday, August 15th.
Lumen Technologies Company Profile
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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.
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