Bank of America Corp DE Buys 893 Shares of China Telecom Corp Ltd (NYSE:CHA)
Bank of America Corp DE increased its position in China Telecom Corp Ltd (NYSE:CHA) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 39,658 shares of the utilities provider’s stock after buying an additional 893 shares during the period. Bank of America Corp DE’s holdings in China Telecom Corp were worth $1,930,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CHA. Karp Capital Management Corp bought a new stake in China Telecom Corp during the first quarter worth approximately $12,988,000. Bank of Montreal Can boosted its stake in China Telecom Corp by 1.5% in the first quarter. Bank of Montreal Can now owns 7,545 shares of the utilities provider’s stock worth $367,000 after buying an additional 108 shares in the last quarter. Capstone Asset Management Co. boosted its stake in China Telecom Corp by 6.6% in the first quarter. Capstone Asset Management Co. now owns 10,305 shares of the utilities provider’s stock worth $502,000 after buying an additional 640 shares in the last quarter. Liberty Mutual Group Asset Management Inc. bought a new stake in China Telecom Corp during the first quarter worth approximately $415,000. Finally, US Bancorp DE boosted its stake in China Telecom Corp by 1,443.8% in the first quarter. US Bancorp DE now owns 6,731 shares of the utilities provider’s stock worth $328,000 after buying an additional 6,295 shares in the last quarter. Hedge funds and other institutional investors own 0.44% of the company’s stock.
Shares of China Telecom Corp Ltd (NYSE CHA) traded up 1.70% during mid-day trading on Friday, reaching $48.54. The company’s stock had a trading volume of 24,788 shares. The firm’s 50 day moving average is $47.81 and its 200-day moving average is $48.34. The company has a market capitalization of $39.28 billion, a PE ratio of 14.71 and a beta of 0.65. China Telecom Corp Ltd has a 52-week low of $45.58 and a 52-week high of $53.87.
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CHA has been the subject of a number of recent research reports. Zacks Investment Research upgraded China Telecom Corp from a “sell” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub cut China Telecom Corp from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.00.
China Telecom Corp Company Profile
China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.
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