Truist Financial Corp Reduces Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Truist Financial Corp lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,390 shares of the company’s stock after selling 1,299 shares during the period. Truist Financial Corp’s holdings in Charter Communications were worth $2,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHTR. Reston Wealth Management LLC purchased a new position in Charter Communications in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Charter Communications in the third quarter worth about $28,000. Avior Wealth Management LLC lifted its stake in Charter Communications by 104.7% in the fourth quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock worth $30,000 after purchasing an additional 45 shares during the last quarter. Sierra Ocean LLC bought a new stake in Charter Communications in the fourth quarter worth about $32,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Charter Communications in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Price Performance

NASDAQ CHTR opened at $358.59 on Wednesday. The firm’s fifty day simple moving average is $352.02 and its two-hundred day simple moving average is $353.59. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 4.73. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $415.27. The firm has a market capitalization of $50.99 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.44 and a beta of 1.11.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, February 7th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.14 by $0.96. Charter Communications had a net margin of 9.23% and a return on equity of 29.01%. During the same period last year, the company earned $7.07 EPS. Analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHTR has been the subject of several analyst reports. Pivotal Research raised their price objective on shares of Charter Communications from $435.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Benchmark reaffirmed a “buy” rating and set a $450.00 price target on shares of Charter Communications in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Charter Communications from $385.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $384.42.

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.