SVB Wealth LLC Cuts Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

SVB Wealth LLC cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 13.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 805 shares of the company’s stock after selling 120 shares during the quarter. SVB Wealth LLC’s holdings in Charter Communications were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aspiriant LLC grew its holdings in shares of Charter Communications by 2.3% in the fourth quarter. Aspiriant LLC now owns 1,533 shares of the company’s stock valued at $596,000 after purchasing an additional 35 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Charter Communications by 5.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 660 shares of the company’s stock worth $257,000 after buying an additional 36 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Charter Communications by 2.2% in the fourth quarter. Summit Trail Advisors LLC now owns 1,783 shares of the company’s stock worth $693,000 after buying an additional 39 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Charter Communications by 1.2% in the fourth quarter. Perigon Wealth Management LLC now owns 3,461 shares of the company’s stock worth $1,345,000 after buying an additional 40 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in Charter Communications by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 8,067 shares of the company’s stock worth $2,344,000 after buying an additional 40 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHTR has been the subject of a number of analyst reports. Citigroup downgraded Charter Communications from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $280.00 to $255.00 in a research report on Wednesday, July 3rd. Morgan Stanley lifted their target price on Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday. Wolfe Research downgraded Charter Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Pivotal Research lifted their target price on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays lifted their target price on Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $367.75.

Charter Communications Price Performance

Shares of CHTR stock opened at $383.07 on Wednesday. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $458.30. The firm has a market capitalization of $55.17 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.40 and a current ratio of 0.39. The stock’s 50-day simple moving average is $297.11 and its 200-day simple moving average is $295.33.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The business had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. During the same quarter in the previous year, the firm earned $8.05 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that Charter Communications, Inc. will post 30.5 earnings per share for the current fiscal year.

Charter Communications 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.