First Trust Advisors LP reduced its holdings in shares of China Mobile Ltd. (NYSE:CHL) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 332,045 shares of the Wireless communications provider’s stock after selling 95,136 shares during the quarter. First Trust Advisors LP’s holdings in China Mobile were worth $16,247,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. NumerixS Investment Technologies Inc bought a new position in China Mobile in the second quarter valued at about $129,000. Congress Park Capital LLC bought a new position in China Mobile in the second quarter valued at about $204,000. HighPoint Advisor Group LLC bought a new position in China Mobile in the third quarter valued at about $213,000. Cozad Asset Management Inc. bought a new position in China Mobile in the second quarter valued at about $219,000. Finally, XR Securities LLC bought a new position in China Mobile in the third quarter valued at about $225,000. Institutional investors and hedge funds own 1.99% of the company’s stock.
Several equities analysts have commented on the company. Zacks Investment Research downgraded China Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group downgraded China Mobile from an “outperform” rating to a “neutral” rating in a research report on Friday, October 26th. ValuEngine upgraded China Mobile from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, BNP Paribas downgraded China Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.00.
China Mobile stock opened at $46.04 on Friday. China Mobile Ltd. has a 12 month low of $43.25 and a 12 month high of $53.23.
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China Mobile Profile
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.
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