Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of China Mobile Ltd. (NYSE:CHL) during the third quarter, HoldingsChannel.com reports. The fund purchased 30,800 shares of the Wireless communications provider’s stock, valued at approximately $1,507,000.

A number of other large investors have also added to or reduced their stakes in CHL. BlackRock Inc. increased its holdings in China Mobile by 399.4% in the 2nd quarter. BlackRock Inc. now owns 3,607,415 shares of the Wireless communications provider’s stock valued at $160,133,000 after buying an additional 2,885,043 shares during the period. Renaissance Technologies LLC increased its holdings in China Mobile by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,405,700 shares of the Wireless communications provider’s stock valued at $195,569,000 after buying an additional 459,900 shares during the period. Dimensional Fund Advisors LP increased its holdings in China Mobile by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,222,901 shares of the Wireless communications provider’s stock valued at $255,374,000 after buying an additional 341,073 shares during the period. Aperio Group LLC increased its holdings in China Mobile by 15.0% in the 3rd quarter. Aperio Group LLC now owns 1,581,980 shares of the Wireless communications provider’s stock valued at $77,406,000 after buying an additional 206,387 shares during the period. Finally, Northern Trust Corp increased its holdings in China Mobile by 6.7% in the 2nd quarter. Northern Trust Corp now owns 3,182,679 shares of the Wireless communications provider’s stock valued at $141,280,000 after buying an additional 200,574 shares during the period. 2.09% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on CHL. Mizuho lowered shares of China Mobile from a “neutral” rating to an “underperform” rating in a report on Monday, November 19th. Credit Suisse Group lowered shares of China Mobile from an “outperform” rating to a “neutral” rating in a report on Friday, October 26th. ValuEngine raised shares of China Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research lowered shares of China Mobile from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $56.00.

CHL stock opened at $48.69 on Friday. China Mobile Ltd. has a 12 month low of $43.25 and a 12 month high of $53.23.

COPYRIGHT VIOLATION WARNING: This article was first published by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2018/12/07/connor-clark-lunn-investment-management-ltd-purchases-new-stake-in-china-mobile-ltd-chl.html.

About China Mobile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

Further Reading: What are Institutional Investors?

Want to see what other hedge funds are holding CHL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for China Mobile Ltd. (NYSE:CHL).

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

Receive News & Ratings for China Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Mobile and related companies with MarketBeat.com's FREE daily email newsletter.