Royal Bank of Canada Buys 63,074 Shares of China Mobile (Hong Kong) Ltd. (CHL)

Royal Bank of Canada increased its stake in shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) by 16.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,307 shares of the Wireless communications provider’s stock after buying an additional 63,074 shares during the quarter. Royal Bank of Canada’s holdings in China Mobile (Hong Kong) were worth $23,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC grew its stake in China Mobile (Hong Kong) by 19.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,138 shares of the Wireless communications provider’s stock worth $114,000 after buying an additional 342 shares during the last quarter. Israel Discount Bank of New York grew its stake in China Mobile (Hong Kong) by 43.0% during the 2nd quarter. Israel Discount Bank of New York now owns 3,075 shares of the Wireless communications provider’s stock worth $163,000 after buying an additional 925 shares during the last quarter. Signaturefd LLC bought a new position in China Mobile (Hong Kong) during the 1st quarter worth $203,000. High Pointe Capital Management LLC bought a new position in China Mobile (Hong Kong) during the 2nd quarter worth $205,000. Finally, First Allied Advisory Services Inc. grew its stake in China Mobile (Hong Kong) by 0.5% during the 2nd quarter. First Allied Advisory Services Inc. now owns 4,289 shares of the Wireless communications provider’s stock worth $227,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 1.97% of the company’s stock.

China Mobile (CHL) opened at 50.83 on Wednesday. The stock has a 50 day moving average price of $52.32 and a 200 day moving average price of $53.70. China Mobile has a 1-year low of $50.07 and a 1-year high of $61.58. The company has a market cap of $208.15 billion, a PE ratio of 12.26 and a beta of 0.29.

The company also recently announced a special dividend, which was paid on Tuesday, October 10th. Stockholders of record on Thursday, August 31st were paid a $2.0457 dividend. This is a boost from China Mobile (Hong Kong)’s previous special dividend of $0.77. This represents a dividend yield of 3.73%. The ex-dividend date was Tuesday, August 29th.

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A number of research analysts recently commented on CHL shares. BidaskClub upgraded China Mobile (Hong Kong) from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded China Mobile (Hong Kong) from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Bank of America Corporation started coverage on China Mobile (Hong Kong) in a research note on Wednesday, August 30th. They set a “buy” rating for the company. Finally, Morgan Stanley downgraded China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.00.

China Mobile (Hong Kong) 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.

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

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