State of New Jersey Common Pension Fund D Lowers Stake in China Mobile Ltd. (NYSE:CHL)

State of New Jersey Common Pension Fund D lessened its stake in China Mobile Ltd. (NYSE:CHL) by 24.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 298,413 shares of the Wireless communications provider’s stock after selling 95,996 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in China Mobile were worth $13,515,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of China Mobile by 1.4% in the first quarter. Rockefeller Capital Management L.P. now owns 18,723 shares of the Wireless communications provider’s stock worth $955,000 after buying an additional 257 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of China Mobile by 48.6% in the first quarter. Lindbrook Capital LLC now owns 850 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 278 shares in the last quarter. Pinnacle Bank lifted its holdings in shares of China Mobile by 106.5% in the second quarter. Pinnacle Bank now owns 568 shares of the Wireless communications provider’s stock worth $26,000 after buying an additional 293 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in shares of China Mobile by 43.6% in the first quarter. Cornerstone Advisors Inc. now owns 975 shares of the Wireless communications provider’s stock worth $50,000 after buying an additional 296 shares in the last quarter. Finally, Bienville Capital Management LLC lifted its holdings in shares of China Mobile by 3.3% in the first quarter. Bienville Capital Management LLC now owns 12,522 shares of the Wireless communications provider’s stock worth $638,000 after buying an additional 399 shares in the last quarter. 2.09% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. Credit Suisse Group raised shares of China Mobile from a “neutral” rating to an “outperform” rating and set a $46.65 target price on the stock in a report on Wednesday, May 8th. Zacks Investment Research raised shares of China Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Goldman Sachs Group downgraded shares of China Mobile from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $55.00 in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.22.

CHL traded down $0.16 during trading hours on Wednesday, hitting $42.69. The company’s stock had a trading volume of 490,920 shares, compared to its average volume of 540,722. The firm has a 50-day moving average of $44.67. China Mobile Ltd. has a 12 month low of $42.82 and a 12 month high of $55.84. The firm has a market cap of $174.62 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61.

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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