China Telecom Corp Ltd (NYSE:CHA)’s share price hit a new 52-week high on Tuesday . The company traded as high as $53.66 and last traded at $53.63, with a volume of 34,346 shares traded. The stock had previously closed at $51.22.

CHA has been the subject of a number of recent analyst reports. Bank of America Corporation initiated coverage on China Telecom Corp in a research report on Wednesday, August 30th. They issued a “buy” rating for the company. Zacks Investment Research raised China Telecom Corp from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Monday, August 28th. Finally, BidaskClub raised China Telecom Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. China Telecom Corp has an average rating of “Buy” and a consensus price target of $55.00.

The firm has a market capitalization of $42.68 billion, a price-to-earnings ratio of 14.65 and a beta of 0.60. The firm has a 50-day moving average price of $50.85 and a 200 day moving average price of $49.14.

Several large investors have recently made changes to their positions in CHA. Northwestern Mutual Wealth Management Co. raised its stake in shares of China Telecom Corp by 93.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,211 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,068 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of China Telecom Corp by 22.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,390 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 630 shares during the last quarter. Diversified Trust Co purchased a new position in shares of China Telecom Corp in the second quarter worth about $208,000. Greenleaf Trust purchased a new position in shares of China Telecom Corp in the second quarter worth about $240,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of China Telecom Corp in the first quarter worth about $244,000. Hedge funds and other institutional investors own 0.41% of the company’s stock.

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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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