Ferguson Wellman Capital Management Inc. Trims Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Ferguson Wellman Capital Management Inc. lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 4.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 680 shares of the company’s stock after selling 31 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Charter Communications were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in shares of Charter Communications by 50.8% during the 1st quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after purchasing an additional 3,080 shares during the period. Cornerstone Capital Inc. lifted its stake in shares of Charter Communications by 40.7% during the 3rd quarter. Cornerstone Capital Inc. now owns 37,860 shares of the company’s stock worth $12,270,000 after purchasing an additional 10,950 shares during the period. National Pension Service lifted its stake in shares of Charter Communications by 8.1% during the 3rd quarter. National Pension Service now owns 172,013 shares of the company’s stock worth $55,746,000 after purchasing an additional 12,915 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Charter Communications during the 2nd quarter worth $7,171,000. Finally, Cetera Investment Advisers lifted its stake in shares of Charter Communications by 432.3% during the 1st quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock worth $2,150,000 after purchasing an additional 6,009 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Down 2.9 %

Shares of NASDAQ CHTR opened at $394.25 on Friday. The stock has a fifty day moving average price of $340.07 and a 200 day moving average price of $319.36. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market cap of $56.06 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.62 and a beta of 1.03. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $421.16.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, beating the consensus estimate of $8.55 by $0.27. The company had revenue of $13.80 billion during 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%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $8.25 earnings per share. Research analysts anticipate that Charter Communications, Inc. will post 32.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CHTR shares. Bank of America raised Charter Communications from a “neutral” rating to a “buy” rating and increased their price target for the stock from $385.00 to $450.00 in a research note on Monday, November 4th. Benchmark increased 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. Royal Bank of Canada upped their price objective on Charter Communications from $345.00 to $390.00 and gave the stock a “sector perform” rating in a report on Monday, November 4th. 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. Finally, Citigroup upgraded Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective for the company in a report on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Hold” and an average target price of $379.06.

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.