Charter Communications, Inc. (NASDAQ:CHTR) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 5.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 680,458 shares of the company’s stock after selling 38,899 shares during the period. Bank of New York Mellon Corp’s holdings in Charter Communications were worth $203,430,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Capital International Investors boosted its holdings in Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after buying an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Charter Communications by 96.5% during the first quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after buying an additional 1,399,034 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Charter Communications by 40.1% during the fourth quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock worth $629,872,000 after buying an additional 463,968 shares in the last quarter. Putnam Investments LLC boosted its holdings in Charter Communications by 24.5% during the fourth quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after buying an additional 242,448 shares in the last quarter. Finally, Norges Bank bought a new stake in Charter Communications during the fourth quarter worth approximately $310,727,000. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Stock Up 1.9 %

Shares of Charter Communications stock traded up $6.64 during midday trading on Monday, reaching $355.37. 608,433 shares of the company’s stock traded hands, compared to its average volume of 1,414,032. The company has a market cap of $51.18 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $458.30. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.40 and a current ratio of 0.39. The company’s 50 day simple moving average is $326.42 and its 200 day simple moving average is $295.53.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping the consensus estimate of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to the consensus estimate of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $8.05 EPS. Equities analysts expect that Charter Communications, Inc. will post 32.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHTR shares. Citigroup raised their price objective on shares of Charter Communications from $255.00 to $350.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley raised their price objective on shares of Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $360.93.

Charter Communications 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.