Parsec Financial Management Inc. Cuts Position in China Mobile Ltd. (NYSE:CHL)

Parsec Financial Management Inc. lessened its holdings in China Mobile Ltd. (NYSE:CHL) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 164,326 shares of the Wireless communications provider’s stock after selling 18,839 shares during the quarter. Parsec Financial Management Inc.’s holdings in China Mobile were worth $7,442,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. OLD Second National Bank of Aurora acquired a new stake in China Mobile in the 1st quarter worth about $25,000. Pinnacle Bank boosted its holdings in shares of China Mobile by 106.5% during the 2nd quarter. Pinnacle Bank now owns 568 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 293 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of China Mobile during the 1st quarter worth approximately $28,000. Nkcfo LLC acquired a new position in shares of China Mobile during the 1st quarter worth approximately $31,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of China Mobile by 1,169.5% during the 4th quarter. Global Retirement Partners LLC now owns 749 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 2.09% of the company’s stock.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Credit Suisse Group set a €92.00 ($106.98) target price on Bayerische Motoren Werke and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Goldman Sachs Group set a GBX 4,300 ($56.19) target price on ASOS and gave the stock a “buy” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.22.

CHL traded down $0.38 during trading hours on Tuesday, reaching $42.91. The company’s stock had a trading volume of 13,663 shares, compared to its average volume of 540,722. China Mobile Ltd. has a fifty-two week low of $43.08 and a fifty-two week high of $55.84. The stock has a market cap of $176.85 billion, a PE ratio of 10.31, a PEG ratio of 2.43 and a beta of 0.61. The business has a 50-day moving average of $44.71.

China Mobile Company Profile

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers 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.

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

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