Sumitomo Mitsui Trust Holdings Inc. Sells 18,844 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 223,410 shares of the company’s stock after selling 18,844 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.16% of Charter Communications worth $66,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC increased its stake in Charter Communications by 5.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 660 shares of the company’s stock valued at $257,000 after buying an additional 36 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Charter Communications by 2.2% during the 4th quarter. Summit Trail Advisors LLC now owns 1,783 shares of the company’s stock worth $693,000 after purchasing an additional 39 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Charter Communications by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 8,067 shares of the company’s stock worth $2,344,000 after purchasing an additional 40 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of Charter Communications by 3.7% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,175 shares of the company’s stock worth $457,000 after purchasing an additional 42 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Charter Communications by 7.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 620 shares of the company’s stock worth $241,000 after purchasing an additional 45 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

NASDAQ CHTR traded up $1.30 during trading on Friday, reaching $353.31. The company’s stock had a trading volume of 658,621 shares, compared to its average volume of 1,439,459. The company has a current ratio of 0.39, a quick ratio of 0.40 and a debt-to-equity ratio of 5.84. The firm has a market capitalization of $50.89 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. Charter Communications, Inc. has a 12 month low of $236.08 and a 12 month high of $458.30. The firm has a 50 day moving average price of $319.25 and a 200 day moving average price of $294.96.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The firm had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $13.59 billion. During the same quarter in the previous year, the firm posted $8.05 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Charter Communications, Inc. will post 32.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CHTR shares. TD Cowen boosted their price objective on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wolfe Research lowered shares of Charter Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Morgan Stanley upped their price target on shares of Charter Communications from $330.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Raymond James lowered shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $360.93.

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.