Retirement Systems of Alabama Sells 387 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Retirement Systems of Alabama cut its position in Charter Communications, Inc. (NASDAQ:CHTR) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,218 shares of the company’s stock after selling 387 shares during the quarter. Retirement Systems of Alabama’s holdings in Charter Communications were worth $6,876,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in Charter Communications in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in Charter Communications in the 3rd quarter worth approximately $28,000. Grove Bank & Trust increased its holdings in shares of Charter Communications by 39.1% in the 3rd quarter. Grove Bank & Trust now owns 121 shares of the company’s stock worth $39,000 after buying an additional 34 shares during the last quarter. CVA Family Office LLC raised its position in shares of Charter Communications by 31.3% during the 3rd quarter. CVA Family Office LLC now owns 147 shares of the company’s stock valued at $48,000 after buying an additional 35 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Charter Communications by 28.7% in the third quarter. Capital Advisors Ltd. LLC now owns 157 shares of the company’s stock worth $51,000 after acquiring an additional 35 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Shares of CHTR opened at $371.03 on Wednesday. The firm has a fifty day simple moving average of $368.38 and a two-hundred day simple moving average of $339.50. The firm has a market cap of $52.76 billion, a PE ratio of 11.62, a P/E/G ratio of 0.60 and a beta of 1.08. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. Charter Communications, Inc. has a 1-year low of $236.08 and a 1-year high of $415.27.

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

Wall Street Analyst Weigh In

CHTR has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charter Communications from $340.00 to $365.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Benchmark raised their price objective on Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and raised their price target for the stock from $385.00 to $450.00 in a research report on Monday, November 4th. Finally, Morgan Stanley raised their target price on shares of Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Charter Communications has an average rating of “Hold” and a consensus price target of $384.42.

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.