Charter Communications, Inc. (NASDAQ:CHTR) Stock Position Cut by Berkshire Hathaway Inc

Berkshire Hathaway Inc trimmed its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 26.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,821,879 shares of the company’s stock after selling 1,007,062 shares during the quarter. Charter Communications comprises 0.3% of Berkshire Hathaway Inc’s holdings, making the stock its 23rd biggest position. Berkshire Hathaway Inc’s holdings in Charter Communications were worth $914,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its stake in Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock valued at $104,188,000 after buying an additional 348,299 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Charter Communications by 12,597.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock worth $80,941,000 after buying an additional 247,789 shares in the last quarter. FMR LLC grew its position in Charter Communications by 27.7% in the third quarter. FMR LLC now owns 1,064,948 shares of the company’s stock worth $345,128,000 after buying an additional 230,817 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Charter Communications by 6.1% in the second quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after buying an additional 175,130 shares in the last quarter. Finally, Fernbridge Capital Management LP acquired a new stake in shares of Charter Communications during the 3rd quarter valued at $48,200,000. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CHTR shares. Pivotal Research lifted their target price on Charter Communications from $435.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Benchmark lifted their price target on Charter Communications from $440.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays upped their price objective 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. Morgan Stanley lifted their target price on shares of Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Charter Communications from $385.00 to $400.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $378.00.

Charter Communications Stock Performance

CHTR opened at $396.97 on Monday. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $56.45 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.03. The stock has a 50-day moving average of $353.45 and a 200-day moving average of $329.97. Charter Communications, Inc. has a 52-week low of $236.08 and a 52-week high of $415.27.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating the consensus estimate of $8.55 by $0.27. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.66 billion. During the same quarter last year, the company posted $8.25 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Charter Communications, Inc. will post 32.87 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.