Covenant Multifamily Offices LLC acquired a new stake in China Mobile Ltd. (NYSE:CHL) during the first quarter, according to its most recent filing with the SEC. The firm acquired 932 shares of the Wireless communications provider’s stock, valued at approximately $48,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Naples Global Advisors LLC increased its position in shares of China Mobile by 4.4% in the first quarter. Naples Global Advisors LLC now owns 29,660 shares of the Wireless communications provider’s stock valued at $1,512,000 after acquiring an additional 1,240 shares during the last quarter. Choate Investment Advisors bought a new position in China Mobile during the first quarter worth about $204,000. Quadrant Capital Group LLC grew its holdings in China Mobile by 86.6% during the first quarter. Quadrant Capital Group LLC now owns 9,491 shares of the Wireless communications provider’s stock worth $478,000 after purchasing an additional 4,406 shares during the period. Intersect Capital LLC grew its holdings in China Mobile by 26.0% during the first quarter. Intersect Capital LLC now owns 8,570 shares of the Wireless communications provider’s stock worth $437,000 after purchasing an additional 1,770 shares during the period. Finally, Barry Investment Advisors LLC grew its holdings in China Mobile by 0.4% during the first quarter. Barry Investment Advisors LLC now owns 108,189 shares of the Wireless communications provider’s stock worth $5,517,000 after purchasing an additional 471 shares during the period. Hedge funds and other institutional investors own 2.02% of the company’s stock.
A number of equities research analysts have recently issued reports on CHL shares. Jefferies Financial Group upgraded China Mobile from a “hold” rating to a “buy” rating in a report on Monday, March 11th. Zacks Investment Research upgraded China Mobile from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, January 24th. Citigroup restated a “buy” rating on shares of China Mobile in a report on Friday, March 22nd. HSBC cut China Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Goldman Sachs Group downgraded shares of China Mobile from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $55.00 in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.22.
NYSE CHL traded down $0.42 on Wednesday, reaching $46.03. The company had a trading volume of 475,993 shares, compared to its average volume of 1,002,218. China Mobile Ltd. has a fifty-two week low of $43.25 and a fifty-two week high of $55.84.
The company also recently declared a semiannual dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, May 24th will be given a dividend of $0.8863 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a yield of 3.41%. This is a boost from China Mobile’s previous semiannual dividend of $0.80.
About China Mobile
China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers 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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