Alliancebernstein L.P. Trims Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Alliancebernstein L.P. trimmed its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 9.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 172,876 shares of the company’s stock after selling 18,309 shares during the period. Alliancebernstein L.P.’s holdings in Charter Communications were worth $59,257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Charter Communications in the 4th quarter valued at about $1,032,236,000. Arrowstreet Capital Limited Partnership lifted its holdings in Charter Communications by 130.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,078,175 shares of the company’s stock valued at $369,566,000 after acquiring an additional 609,554 shares during the period. Franklin Resources Inc. boosted its position in Charter Communications by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock worth $1,052,868,000 after purchasing an additional 148,003 shares in the last quarter. Amundi grew its stake in shares of Charter Communications by 62.0% during the 4th quarter. Amundi now owns 288,559 shares of the company’s stock worth $100,799,000 after purchasing an additional 110,410 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Charter Communications during the 4th quarter valued at approximately $33,485,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHTR shares. Barclays increased their price target on shares of Charter Communications from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Citigroup assumed coverage on shares of Charter Communications in a research note on Friday, March 14th. They set a “buy” rating and a $425.00 target price on the stock. Benchmark restated a “buy” rating and set a $450.00 target price on shares of Charter Communications in a research report on Friday, January 31st. KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Thursday, December 12th. Finally, StockNews.com lowered Charter Communications from a “buy” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $393.18.

Charter Communications Trading Down 8.2 %

Shares of Charter Communications stock opened at $338.29 on Friday. The company has a debt-to-equity ratio of 4.73, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s 50 day simple moving average is $360.56 and its 200-day simple moving average is $357.50. The stock has a market cap of $48.02 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.44 and a beta of 1.12. Charter Communications, Inc. has a 1-year low of $236.08 and a 1-year high of $415.27.

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

Charter Communications Company 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.