Letko Brosseau & Associates Inc. Has $86.84 Million Holdings in China Mobile (CHL)

Letko Brosseau & Associates Inc. grew its stake in China Mobile (NYSE:CHL) by 183.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,898,050 shares of the Wireless communications provider’s stock after buying an additional 1,229,575 shares during the period. Letko Brosseau & Associates Inc.’s holdings in China Mobile were worth $86,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SevenBridge Financial Group LLC increased its holdings in China Mobile by 229.4% in the fourth quarter. SevenBridge Financial Group LLC now owns 2,141 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 1,491 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of China Mobile in the fourth quarter valued at about $122,000. San Francisco Sentry Investment Group CA grew its position in shares of China Mobile by 162.1% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 2,524 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,561 shares during the period. Icon Wealth Partners LLC acquired a new stake in shares of China Mobile in the fourth quarter valued at about $135,000. Finally, Bronfman E.L. Rothschild L.P. grew its position in shares of China Mobile by 484.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,522 shares of the Wireless communications provider’s stock valued at $178,000 after purchasing an additional 2,919 shares during the period. 1.90% of the stock is owned by institutional investors and hedge funds.

Shares of CHL opened at $46.56 on Monday. China Mobile has a fifty-two week low of $44.55 and a fifty-two week high of $56.93. The company has a market cap of $190.67 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.53.

The firm also recently announced a special dividend, which will be paid on Monday, July 9th. Investors of record on Thursday, May 24th will be paid a dividend of $1.0082 per share. The ex-dividend date of this dividend is Wednesday, May 23rd. China Mobile’s payout ratio is currently 39.95%.

Several analysts have recently issued reports on CHL shares. Zacks Investment Research upgraded shares of China Mobile from a “sell” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, April 10th. Nomura lowered shares of China Mobile from a “buy” rating to a “neutral” rating in a research report on Monday, March 12th. Jefferies Group raised shares of China Mobile from an “underperform” rating to a “hold” rating in a research note on Thursday, March 22nd. Finally, ValuEngine downgraded shares of China Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.00.

About China Mobile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

Institutional Ownership by Quarter for China Mobile (NYSE:CHL)

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