Charter Communications, Inc. (NASDAQ:CHTR) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 0.9% during the second quarter, HoldingsChannel reports. The fund owned 21,605 shares of the company’s stock after selling 190 shares during the quarter. Retirement Systems of Alabama’s holdings in Charter Communications were worth $6,459,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC lifted its position in shares of Charter Communications by 5.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 660 shares of the company’s stock worth $257,000 after purchasing an additional 36 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of Charter Communications by 2.2% in the 4th quarter. Summit Trail Advisors LLC now owns 1,783 shares of the company’s stock worth $693,000 after acquiring an additional 39 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of Charter Communications by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 8,067 shares of the company’s stock valued at $2,344,000 after acquiring an additional 40 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position 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 valued at $241,000 after acquiring an additional 45 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Charter Communications by 5.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,074 shares of the company’s stock worth $417,000 after purchasing an additional 55 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CHTR shares. Loop Capital lowered their target price on shares of Charter Communications from $335.00 to $285.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Citigroup boosted their price objective on shares of Charter Communications from $255.00 to $350.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Bank of America raised their target price on shares of Charter Communications from $360.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Morgan Stanley upped their target price on Charter Communications from $330.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Rosenblatt Securities raised their price target on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Four investment 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. According to MarketBeat, Charter Communications currently has an average rating of “Hold” and an average target price of $360.93.

Charter Communications Price Performance

Shares of CHTR opened at $348.73 on Monday. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $458.30. The stock’s fifty day moving average is $326.42 and its 200-day moving average is $295.53. 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 firm has a market capitalization of $50.23 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, beating the consensus estimate of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. Charter Communications’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $8.05 EPS. Equities analysts anticipate that Charter Communications, Inc. will post 32.52 EPS for the current year.

About Charter Communications

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.