Crescent Grove Advisors LLC purchased a new position in China Mobile (Hong Kong) Ltd. (NYSE:CHL) during the second quarter, Holdings Channel reports. The firm purchased 11,487 shares of the Wireless communications provider’s stock, valued at approximately $619,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of China Mobile (Hong Kong) by 5.7% in the first quarter. Lazard Asset Management LLC now owns 16,123,221 shares of the Wireless communications provider’s stock worth $890,484,000 after buying an additional 864,087 shares during the period. Cambiar Investors LLC raised its position in shares of China Mobile (Hong Kong) by 14.5% in the first quarter. Cambiar Investors LLC now owns 4,709,589 shares of the Wireless communications provider’s stock worth $260,111,000 after buying an additional 598,115 shares during the period. Dimensional Fund Advisors LP raised its position in shares of China Mobile (Hong Kong) by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,947,974 shares of the Wireless communications provider’s stock worth $218,001,000 after buying an additional 128,180 shares during the period. BlackRock Inc. raised its position in shares of China Mobile (Hong Kong) by 351.7% in the first quarter. BlackRock Inc. now owns 3,114,943 shares of the Wireless communications provider’s stock worth $172,038,000 after buying an additional 2,425,378 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of China Mobile (Hong Kong) by 23.7% in the first quarter. Macquarie Group Ltd. now owns 2,640,944 shares of the Wireless communications provider’s stock worth $145,859,000 after buying an additional 506,057 shares during the period. Institutional investors own 1.97% of the company’s stock.

Shares of China Mobile (CHL) opened at 55.08 on Friday. The stock has a 50 day moving average price of $53.15 and a 200 day moving average price of $54.72. China Mobile has a one year low of $51.30 and a one year high of $63.89. The firm has a market cap of $225.56 billion, a price-to-earnings ratio of 13.82 and a beta of 0.30.

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A number of research analysts have issued reports on CHL shares. BidaskClub upgraded China Mobile (Hong Kong) from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded China Mobile (Hong Kong) from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, June 27th. Finally, Morgan Stanley lowered China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $60.00.

About China Mobile (Hong Kong)

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

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