Private Advisor Group LLC reduced its stake in shares of China Telecom Co. Limited (NYSE:CHA) by 13.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,433 shares of the utilities provider’s stock after selling 2,645 shares during the period. Private Advisor Group LLC’s holdings in China Telecom were worth $884,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in China Telecom during the fourth quarter valued at $78,000. Quadrant Capital Group LLC grew its holdings in China Telecom by 374.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,737 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,371 shares during the period. Rehmann Capital Advisory Group grew its holdings in China Telecom by 104.8% during the third quarter. Rehmann Capital Advisory Group now owns 2,556 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,308 shares during the period. Macquarie Group Ltd. bought a new position in China Telecom during the third quarter valued at $163,000. Finally, Mackenzie Financial Corp bought a new position in China Telecom during the third quarter valued at $232,000. 0.59% of the stock is owned by hedge funds and other institutional investors.
Get China Telecom alerts:Shares of CHA stock opened at $53.59 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.27 and a debt-to-equity ratio of 0.14. China Telecom Co. Limited has a 52-week low of $41.28 and a 52-week high of $56.63. The firm has a market capitalization of $45.12 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 2.12 and a beta of 0.77.
Several equities analysts have weighed in on the company. Zacks Investment Research raised China Telecom from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. New Street Research lowered China Telecom from a “neutral” rating to a “reduce” rating in a report on Monday, February 11th. Finally, Mizuho lowered China Telecom from a “neutral” rating to a “sell” rating in a report on Monday, November 19th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $62.00.
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China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.
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