Legal & General Group Plc decreased its position in shares of China Mobile Ltd. (NYSE:CHL) by 14.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,000 shares of the Wireless communications provider’s stock after selling 31,200 shares during the quarter. Legal & General Group Plc’s holdings in China Mobile were worth $9,003,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHL. BT Investment Management Ltd bought a new stake in China Mobile in the 2nd quarter valued at $42,224,000. Arrowstreet Capital Limited Partnership increased its holdings in China Mobile by 20.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,063,227 shares of the Wireless communications provider’s stock valued at $162,627,000 after acquiring an additional 525,370 shares during the last quarter. Renaissance Technologies LLC increased its holdings in China Mobile by 12.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,192,500 shares of the Wireless communications provider’s stock valued at $169,490,000 after acquiring an additional 341,000 shares during the last quarter. BlackRock Inc. increased its holdings in China Mobile by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,421,778 shares of the Wireless communications provider’s stock valued at $181,663,000 after acquiring an additional 306,835 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in China Mobile by 41.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 706,554 shares of the Wireless communications provider’s stock valued at $35,730,000 after acquiring an additional 208,600 shares during the last quarter. Institutional investors own 2.01% of the company’s stock.
Shares of China Mobile Ltd. (CHL) opened at $48.94 on Wednesday. China Mobile Ltd. has a fifty-two week low of $48.70 and a fifty-two week high of $58.83.
CHL has been the topic of a number of research reports. Zacks Investment Research upgraded shares of China Mobile from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, August 28th. ValuEngine upgraded shares of China Mobile from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Bank of America initiated coverage on shares of China Mobile in a report on Wednesday, August 30th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.00.
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China Mobile Profile
China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.
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