Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 22.9% during the second quarter, Holdings Channel reports. The institutional investor owned 14,212 shares of the technology company’s stock after selling 4,217 shares during the quarter. Moody National Bank Trust Division’s holdings in Lumen Technologies were worth $155,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Lumen Technologies by 2.4% during the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock worth $1,308,871,000 after buying an additional 2,726,090 shares during the period. BlackRock Inc. increased its stake in 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 purchasing an additional 2,332,996 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 417,651 shares during the last quarter. Invesco Ltd. increased its stake in 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 purchasing an additional 2,919,199 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its stake in 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 purchasing an additional 3,466,092 shares during the last quarter. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $8.46 on Thursday. The company has a market capitalization of $8.76 billion, a P/E ratio of 4.36 and a beta of 0.97. Lumen Technologies, Inc. has a twelve month low of $8.43 and a twelve month high of $14.49. The business has a 50 day simple moving average of $10.39 and a 200-day simple moving average of $10.88. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 2.29.

Lumen Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.82%. The ex-dividend date of this dividend was Monday, August 29th. Lumen Technologies’s payout ratio is currently 51.55%.

Analysts Set New Price Targets

Several brokerages have commented on LUMN. JPMorgan Chase & Co. began coverage on shares of Lumen Technologies in a research note on Friday, August 5th. They issued an “underweight” rating and a $10.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Lumen Technologies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Thursday, August 11th. Finally, TheStreet lowered shares of Lumen Technologies from a “b” rating to a “c” rating in a research note 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.

See Also

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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