Capital Group Private Client Services Inc. Trims Stock Position in Charter Communications, Inc. $CHTR

Capital Group Private Client Services Inc. cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 76.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,021 shares of the company’s stock after selling 79,030 shares during the period. Capital Group Private Client Services Inc.’s holdings in Charter Communications were worth $6,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CHTR. Atlantic Union Bankshares Corp purchased a new stake in Charter Communications in the second quarter valued at $25,000. Heritage Wealth Advisors acquired a new position in shares of Charter Communications in the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. grew its holdings in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Webster Bank N. A. acquired a new stake in shares of Charter Communications during the 3rd quarter worth about $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Charter Communications during the 3rd quarter worth about $30,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

NASDAQ CHTR opened at $222.81 on Tuesday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $28.21 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.37 and a beta of 1.02. The stock has a 50-day moving average of $215.84 and a two-hundred day moving average of $229.78. Charter Communications, Inc. has a 1-year low of $180.38 and a 1-year high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.10 EPS. As a group, analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CHTR. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $275.00 to $235.00 and set a “hold” rating on the stock in a research report on Tuesday, February 3rd. TD Cowen boosted their price target on shares of Charter Communications from $428.00 to $437.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. UBS Group set a $425.00 price objective on shares of Charter Communications in a report on Thursday, January 29th. Williams Trading set a $437.00 price objective on shares of Charter Communications in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating for the company in a report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Charter Communications has an average rating of “Hold” and a consensus price target of $335.11.

Charter Communications Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.