Private Advisor Group LLC bought a new position in China Telecom Co. Limited (NYSE:CHA) during the third quarter, HoldingsChannel reports. The fund bought 20,078 shares of the utilities provider’s stock, valued at approximately $992,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of China Telecom by 199.3% during the third quarter. Acadian Asset Management LLC now owns 73,643 shares of the utilities provider’s stock valued at $3,640,000 after buying an additional 49,038 shares during the last quarter. Aperio Group LLC boosted its position in shares of China Telecom by 8.0% during the third quarter. Aperio Group LLC now owns 469,892 shares of the utilities provider’s stock valued at $23,222,000 after buying an additional 34,935 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of China Telecom during the second quarter valued at $1,185,000. Cornerstone Wealth Management LLC purchased a new stake in shares of China Telecom during the third quarter valued at $298,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of China Telecom during the second quarter valued at $586,000. 0.58% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. Zacks Investment Research cut China Telecom from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Credit Suisse Group cut China Telecom from an “outperform” rating to a “neutral” rating in a research report on Friday, October 26th. UBS Group cut China Telecom from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Finally, CLSA cut China Telecom from an “outperform” rating to an “underperform” rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.00.

Shares of NYSE:CHA opened at $52.02 on Monday. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.27 and a current ratio of 0.29. China Telecom Co. Limited has a 52-week low of $41.28 and a 52-week high of $53.02.

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China Telecom Profile

China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.

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Institutional Ownership by Quarter for China Telecom (NYSE:CHA)

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