Welch & Forbes LLC Sells 8 Shares of Charter Communications, Inc. (NASDAQ:CHTR)
Welch & Forbes LLC decreased its position in Charter Communications, Inc. (NASDAQ:CHTR) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 24,663 shares of the company’s stock after selling 8 shares during the period. Welch & Forbes LLC’s holdings in Charter Communications were worth $8,307,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Charter Communications by 11.5% in the second quarter. Sei Investments Co. now owns 136,636 shares of the company’s stock valued at $46,026,000 after buying an additional 14,046 shares during the period. S&CO Inc. increased its stake in shares of Charter Communications by 1.0% in the second quarter. S&CO Inc. now owns 19,982 shares of the company’s stock valued at $6,731,000 after buying an additional 190 shares during the period. Sterling Investment Management Inc. purchased a new stake in shares of Charter Communications during the second quarter valued at about $2,621,000. Bessemer Group Inc. increased its stake in shares of Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after buying an additional 151 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in shares of Charter Communications during the second quarter valued at about $200,000. Institutional investors own 74.43% of the company’s stock.
Charter Communications, Inc. (CHTR) opened at 384.63 on Friday. Charter Communications, Inc. has a one year low of $233.00 and a one year high of $399.95. The stock’s 50 day moving average is $343.55 and its 200 day moving average is $331.55. The company has a market capitalization of $99.19 billion, a PE ratio of 110.18 and a beta of 1.09.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.29. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, analysts anticipate that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.
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Several brokerages recently issued reports on CHTR. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Charter Communications in a research note on Wednesday, June 28th. Morgan Stanley raised their target price on shares of Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Macquarie reiterated a “buy” rating and issued a $365.00 target price on shares of Charter Communications in a research note on Tuesday, May 2nd. Deutsche Bank AG cut their target price on shares of Charter Communications from $400.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Finally, HSBC Holdings plc reiterated a “hold” rating and issued a $360.00 target price (up from $300.00) on shares of Charter Communications in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $348.54.
In related news, Director Craig A. Jacobson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $323.62, for a total transaction of $323,620.00. Following the sale, the director now directly owns 13,436 shares in the company, valued at approximately $4,348,158.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Merritt purchased 1,200 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $326.31 per share, for a total transaction of $391,572.00. Following the completion of the purchase, the director now directly owns 8,174 shares in the company, valued at approximately $2,667,257.94. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.
About Charter Communications
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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