Sumitomo Life Insurance Co. Trims Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Sumitomo Life Insurance Co. lowered its position in Charter Communications, Inc. (NASDAQ:CHTR) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,365 shares of the company’s stock after selling 35 shares during the period. Sumitomo Life Insurance Co.’s holdings in Charter Communications were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in shares of Charter Communications in the third quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in Charter Communications in the third quarter valued at $28,000. Avior Wealth Management LLC grew its position in Charter Communications by 104.7% during the 4th quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock worth $30,000 after purchasing an additional 45 shares during the period. Grove Bank & Trust raised its stake in shares of Charter Communications by 39.1% during the 3rd quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after buying an additional 34 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Charter Communications by 31.3% in the third quarter. CVA Family Office LLC now owns 147 shares of the company’s stock worth $48,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHTR. KeyCorp upgraded Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Thursday, December 12th. Barclays boosted their target price on shares of Charter Communications from $300.00 to $315.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Benchmark upped their price objective on shares of Charter Communications from $440.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Pivotal Research raised their target price on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.89.

Charter Communications Price Performance

CHTR stock opened at $359.33 on Thursday. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year high of $415.27. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $51.10 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.46 and a beta of 1.10. The business has a 50 day simple moving average of $365.67 and a 200-day simple moving average of $352.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, beating the consensus estimate of $8.55 by $0.27. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The firm had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.66 billion. During the same quarter in the previous year, the company posted $8.25 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Charter Communications, Inc. will post 34.62 earnings per share for the current fiscal year.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.