Renaissance Group LLC raised its stake in shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,539 shares of the Wireless communications provider’s stock after buying an additional 14,205 shares during the period. Renaissance Group LLC’s holdings in China Mobile (Hong Kong) were worth $13,673,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CHL. Lazard Asset Management LLC increased its stake in shares of China Mobile (Hong Kong) by 5.7% in the first quarter. Lazard Asset Management LLC now owns 16,123,221 shares of the Wireless communications provider’s stock valued at $890,484,000 after buying an additional 864,087 shares in the last quarter. Cambiar Investors LLC increased its stake in shares of China Mobile (Hong Kong) by 14.5% in the first quarter. Cambiar Investors LLC now owns 4,709,589 shares of the Wireless communications provider’s stock valued at $260,111,000 after buying an additional 598,115 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of China Mobile (Hong Kong) by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,947,974 shares of the Wireless communications provider’s stock valued at $218,001,000 after buying an additional 128,180 shares in the last quarter. BlackRock Inc. increased its stake in shares of China Mobile (Hong Kong) by 351.7% in the first quarter. BlackRock Inc. now owns 3,114,943 shares of the Wireless communications provider’s stock valued at $172,038,000 after buying an additional 2,425,378 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of China Mobile (Hong Kong) by 23.7% in the first quarter. Macquarie Group Ltd. now owns 2,640,944 shares of the Wireless communications provider’s stock valued at $145,859,000 after buying an additional 506,057 shares in the last quarter. Institutional investors and hedge funds own 1.97% of the company’s stock.

Shares of China Mobile (NYSE:CHL) opened at 56.09 on Tuesday. The firm’s 50-day moving average price is $54.07 and its 200 day moving average price is $54.66. The stock has a market capitalization of $229.69 billion, a P/E ratio of 13.83 and a beta of 0.30. China Mobile has a 52 week low of $51.30 and a 52 week high of $63.26.

The business also recently declared a special dividend, which will be paid on Tuesday, October 10th. Investors of record on Thursday, August 31st will be paid a dividend of $2.0457 per share. This is a positive change from China Mobile (Hong Kong)’s previous special dividend of $0.77. This represents a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, August 29th.

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Several analysts have 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 upgraded China Mobile (Hong Kong) from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, June 27th. 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.00.

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.

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

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