China Telecom Corp Ltd (CHA) Position Increased by Wells Fargo & Company MN
Wells Fargo & Company MN increased its holdings in shares of China Telecom Corp Ltd (NYSE:CHA) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,445 shares of the utilities provider’s stock after purchasing an additional 1,405 shares during the quarter. Wells Fargo & Company MN’s holdings in China Telecom Corp were worth $453,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Diversified Trust Co acquired a new stake in shares of China Telecom Corp during the 2nd quarter worth about $208,000. Greenleaf Trust acquired a new position in China Telecom Corp in the 2nd quarter valued at about $240,000. Goldman Sachs Group Inc. acquired a new position in China Telecom Corp in the 1st quarter valued at about $244,000. Marshall Wace North America L.P. acquired a new position in China Telecom Corp in the 2nd quarter valued at about $269,000. Finally, Acadian Asset Management LLC grew its position in China Telecom Corp by 109.6% in the 2nd quarter. Acadian Asset Management LLC now owns 10,280 shares of the utilities provider’s stock valued at $493,000 after acquiring an additional 5,375 shares in the last quarter. 0.43% of the stock is owned by hedge funds and other institutional investors.
China Telecom Corp Ltd (NYSE:CHA) opened at $50.00 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.03. China Telecom Corp Ltd has a 52-week low of $45.58 and a 52-week high of $53.78.
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Several equities analysts have weighed in on the company. BidaskClub raised China Telecom Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Bank of America Corporation assumed coverage on China Telecom Corp in a research report on Wednesday, August 30th. They issued a “buy” rating for the company. Finally, Zacks Investment Research downgraded China Telecom Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.00.
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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