NGAM Advisors L.P. cut its stake in shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) by 53.1% during the second quarter, Holdings Channel reports. The fund owned 54,844 shares of the Wireless communications provider’s stock after selling 62,050 shares during the period. NGAM Advisors L.P.’s holdings in China Mobile (Hong Kong) were worth $2,912,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Reilly Financial Advisors LLC raised its stake in China Mobile (Hong Kong) by 6.6% in the first quarter. Reilly Financial Advisors LLC now owns 17,771 shares of the Wireless communications provider’s stock valued at $981,000 after buying an additional 1,108 shares during the last quarter. NorthCoast Asset Management LLC raised its stake in China Mobile (Hong Kong) by 147.6% in the first quarter. NorthCoast Asset Management LLC now owns 86,441 shares of the Wireless communications provider’s stock valued at $4,774,000 after buying an additional 51,529 shares during the last quarter. Morgan Stanley raised its stake in China Mobile (Hong Kong) by 13.9% in the first quarter. Morgan Stanley now owns 868,708 shares of the Wireless communications provider’s stock valued at $47,978,000 after buying an additional 105,974 shares during the last quarter. Credit Suisse AG raised its stake in China Mobile (Hong Kong) by 35.6% in the first quarter. Credit Suisse AG now owns 431,036 shares of the Wireless communications provider’s stock valued at $23,807,000 after buying an additional 113,056 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in China Mobile (Hong Kong) by 25.3% in the second quarter. Bank of Montreal Can now owns 230,423 shares of the Wireless communications provider’s stock valued at $12,233,000 after buying an additional 46,551 shares during the last quarter. 1.97% of the stock is owned by institutional investors and hedge funds.

Shares of China Mobile (NYSE CHL) opened at 55.08 on Friday. The company has a 50 day moving average of $53.15 and a 200 day moving average of $54.72. The firm has a market cap of $225.56 billion, a price-to-earnings ratio of 13.82 and a beta of 0.30. China Mobile has a 1-year low of $51.30 and a 1-year high of $63.89.

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Several equities research analysts recently issued reports on CHL shares. BidaskClub lowered shares of China Mobile (Hong Kong) from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of China Mobile (Hong Kong) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, June 27th. Finally, Morgan Stanley lowered shares of China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

China Mobile (Hong Kong) Company Profile

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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