M&T Bank Corp cut its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,786 shares of the company’s stock after selling 481 shares during the period. M&T Bank Corp’s holdings in Charter Communications were worth $3,624,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meritage Group LP lifted its position in Charter Communications by 3.4% in the third quarter. Meritage Group LP now owns 2,819,596 shares of the company’s stock valued at $1,024,698,000 after acquiring an additional 92,620 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Charter Communications by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,300,679 shares of the company’s stock valued at $836,081,000 after acquiring an additional 51,758 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Charter Communications by 315.1% in the third quarter. Ameriprise Financial Inc. now owns 1,384,725 shares of the company’s stock valued at $503,237,000 after acquiring an additional 1,051,151 shares during the last quarter. Swiss National Bank lifted its position in Charter Communications by 1.1% in the third quarter. Swiss National Bank now owns 867,209 shares of the company’s stock valued at $315,161,000 after acquiring an additional 9,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Charter Communications by 1.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 660,618 shares of the company’s stock valued at $240,082,000 after acquiring an additional 10,868 shares during the last quarter. 72.01% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Jonathan Hargis sold 27,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $364.76, for a total transaction of $9,848,520.00. Following the transaction, the executive vice president now directly owns 34,931 shares in the company, valued at $12,741,431.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, February 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. Charter Communications had a net margin of 23.80% and a return on equity of 1.11%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. research analysts predict that Charter Communications, Inc. will post 4.55 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Charter Communications from $283.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, February 5th. TheStreet raised shares of Charter Communications from a “c” rating to a “b+” rating in a research report on Friday, February 2nd. Pivotal Research restated a “buy” rating and issued a $500.00 price objective (up from $420.00) on shares of Charter Communications in a research note on Monday, February 5th. Zacks Investment Research lowered shares of Charter Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $359.00 price objective (up from $340.00) on shares of Charter Communications in a research note on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Charter Communications has an average rating of “Hold” and an average price target of $396.11.
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Charter Communications Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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