JPMorgan Chase & Co. raised its position in shares of China Mobile Ltd. (NYSE:CHL) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,033 shares of the company’s stock after buying an additional 6,288 shares during the period. JPMorgan Chase & Co.’s holdings in China Mobile were worth $3,475,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harding Loevner LP raised its position in China Mobile by 6.9% in the second quarter. Harding Loevner LP now owns 3,955,515 shares of the company’s stock worth $229,024,000 after buying an additional 254,720 shares during the period. Cambiar Investors LLC raised its position in China Mobile by 11.2% in the second quarter. Cambiar Investors LLC now owns 2,978,031 shares of the company’s stock worth $172,428,000 after buying an additional 299,787 shares during the period. Renaissance Technologies LLC raised its position in China Mobile by 109.4% in the first quarter. Renaissance Technologies LLC now owns 1,736,500 shares of the company’s stock worth $96,289,000 after buying an additional 907,300 shares during the period. Emerald Acquisition Ltd. acquired a new position in China Mobile during the second quarter worth $69,653,000. Finally, Ameriprise Financial Inc. raised its position in China Mobile by 6.6% in the second quarter. Ameriprise Financial Inc. now owns 865,503 shares of the company’s stock worth $50,222,000 after buying an additional 53,215 shares during the period. 1.91% of the stock is owned by hedge funds and other institutional investors.
Shares of China Mobile Ltd. (NYSE:CHL) traded up 1.01% during mid-day trading on Tuesday, hitting $60.17. 85,033 shares of the stock were exchanged. China Mobile Ltd. has a 12 month low of $50.12 and a 12 month high of $63.89. The company has a 50-day moving average price of $61.61 and a 200-day moving average price of $59.03. The stock has a market cap of $246.40 billion, a price-to-earnings ratio of 14.71 and a beta of 0.35.
The company also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 1st were issued a dividend of $0.9599 per share. This represents a yield of 3.03%. This is a boost from China Mobile’s previous semiannual dividend of $0.89. The ex-dividend date was Tuesday, August 30th.
CHL has been the subject of several recent analyst reports. Zacks Investment Research raised shares of China Mobile from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 11th. Goldman Sachs Group Inc. lowered shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, August 10th.
About China Mobile
China Mobile Limited is engaged in the provision of telecommunications and related services. The Company offers certain Internet-related services, including mobile Internet, digital services, and certain applications and information services. The Company’s businesses primarily consist of voice business and data business.