Sumitomo Mitsui Trust Holdings Inc. Sells 30,710 Shares of Charter Communications Inc (NASDAQ:CHTR)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Charter Communications Inc (NASDAQ:CHTR) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 649,068 shares of the company’s stock after selling 30,710 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Charter Communications were worth $256,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHTR. Asset Dedication LLC lifted its holdings in shares of Charter Communications by 5.5% in the first quarter. Asset Dedication LLC now owns 534 shares of the company’s stock worth $183,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC lifted its position in Charter Communications by 8.6% during the first quarter. Lindbrook Capital LLC now owns 353 shares of the company’s stock valued at $122,000 after buying an additional 28 shares during the period. Connable Office Inc. lifted its position in Charter Communications by 0.7% during the first quarter. Connable Office Inc. now owns 4,426 shares of the company’s stock valued at $1,535,000 after buying an additional 30 shares during the period. Huntington National Bank lifted its position in Charter Communications by 31.1% during the first quarter. Huntington National Bank now owns 135 shares of the company’s stock valued at $47,000 after buying an additional 32 shares during the period. Finally, First Manhattan Co. lifted its position in Charter Communications by 0.5% during the first quarter. First Manhattan Co. now owns 7,562 shares of the company’s stock valued at $2,623,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 71.90% of the company’s stock.

In other news, Director Craig A. Jacobson sold 1,000 shares of Charter Communications stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the transaction, the director now directly owns 11,773 shares of the company’s stock, valued at approximately $4,588,879.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lance Conn sold 927 shares of Charter Communications stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $400.00, for a total value of $370,800.00. Following the transaction, the director now directly owns 9,552 shares in the company, valued at $3,820,800. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

NASDAQ:CHTR traded down $7.03 on Wednesday, hitting $374.97. The stock had a trading volume of 1,514,948 shares, compared to its average volume of 999,609. The stock has a market cap of $85.19 billion, a PE ratio of 71.83, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average price of $399.48. Charter Communications Inc has a 52-week low of $272.91 and a 52-week high of $417.13.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.40). The firm had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Charter Communications had a return on equity of 3.08% and a net margin of 3.04%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 earnings per share. Equities analysts forecast that Charter Communications Inc will post 6.91 EPS for the current fiscal year.

CHTR has been the subject of several recent research reports. Macquarie initiated coverage on Charter Communications in a research report on Wednesday, June 19th. They set a “hold” rating and a $390.00 price objective for the company. Bank of America restated a “buy” rating and set a $450.00 price target (up from $425.00) on shares of Charter Communications in a report on Tuesday, July 30th. BidaskClub upgraded Charter Communications from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price target on Charter Communications from $383.00 to $421.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Credit Suisse Group raised their price target on Charter Communications from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Charter Communications has a consensus rating of “Hold” and a consensus price target of $415.71.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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