Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,309,970 shares of the technology company’s stock after acquiring an additional 260,265 shares during the period. JPMorgan Chase & Co. owned approximately 0.71% of Lumen Technologies worth $79,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LUMN. Vanguard Group Inc. raised its holdings 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 worth $1,308,871,000 after buying an additional 2,726,090 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Lumen Technologies by 2.4% during the first quarter. BlackRock Inc. now owns 97,635,941 shares of the technology company’s stock worth $1,100,357,000 after purchasing an additional 2,332,996 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lumen Technologies by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 19,521,559 shares of the technology company’s stock worth $220,024,000 after purchasing an additional 417,651 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Lumen Technologies by 24.1% during the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company’s stock worth $169,230,000 after purchasing an additional 2,919,199 shares during the last quarter. Finally, ACR Alpine Capital Research LLC raised its holdings in shares of Lumen Technologies by 2.3% during the second quarter. ACR Alpine Capital Research LLC now owns 14,255,850 shares of the technology company’s stock worth $155,531,000 after purchasing an additional 322,419 shares during the last quarter. 79.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LUMN. Morgan Stanley reduced their target price on shares of Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating for the company in a report on Monday, October 24th. Wells Fargo & Company cut shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 target price for the company. in a report on Wednesday, October 5th. Moffett Nathanson reduced their target price on shares of Lumen Technologies to $6.00 in a report on Thursday, September 29th. Royal Bank of Canada cut their price objective on shares of Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, October 20th. Finally, UBS Group cut their price objective on shares of Lumen Technologies from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.14.

Insider Activity

In related news, Director T Michael Glenn bought 20,000 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were acquired at an average price of $5.92 per share, for a total transaction of $118,400.00. Following the completion of the transaction, the director now directly owns 136,414 shares in the company, valued at $807,570.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Martha Helena Bejar bought 12,500 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average price of $6.36 per share, for a total transaction of $79,500.00. Following the completion of the transaction, the director now directly owns 101,430 shares in the company, valued at $645,094.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director T Michael Glenn purchased 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were acquired at an average price of $5.92 per share, for a total transaction of $118,400.00. Following the completion of the transaction, the director now directly owns 136,414 shares of the company’s stock, valued at approximately $807,570.88. The disclosure for this purchase can be found here. Company insiders own 0.76% of the company’s stock.

Lumen Technologies Stock Up 0.9 %

Shares of NYSE LUMN opened at $5.88 on Thursday. The company’s 50-day simple moving average is $6.99 and its 200-day simple moving average is $9.55. Lumen Technologies, Inc. has a 52-week low of $5.68 and a 52-week high of $13.93. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 2.94 and a beta of 1.06. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73.

About Lumen Technologies

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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.

Further Reading

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

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