Acadian Asset Management LLC decreased its holdings in shares of China Telecom Co. Limited (NYSE:CHA) by 5.5% in the 1st quarter, Holdings Channel reports. The firm owned 56,575 shares of the utilities provider’s stock after selling 3,286 shares during the period. Acadian Asset Management LLC’s holdings in China Telecom were worth $3,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CHA. Sustainable Insight Capital Management LLC acquired a new stake in China Telecom during the 4th quarter valued at $104,000. LMR Partners LLP bought a new position in China Telecom during the 4th quarter worth $5,304,000. Northern Trust Corp increased its position in China Telecom by 127.9% during the 4th quarter. Northern Trust Corp now owns 51,739 shares of the utilities provider’s stock worth $2,625,000 after buying an additional 29,041 shares during the period. Millennium Management LLC increased its position in China Telecom by 15.5% during the 4th quarter. Millennium Management LLC now owns 37,415 shares of the utilities provider’s stock worth $1,898,000 after buying an additional 5,011 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in China Telecom during the 1st quarter worth $273,000. 0.52% of the stock is owned by institutional investors and hedge funds.

CHA stock opened at $48.55 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.26 and a debt-to-equity ratio of 0.13. The firm has a market cap of $40.03 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.44 and a beta of 0.77. China Telecom Co. Limited has a fifty-two week low of $44.20 and a fifty-two week high of $57.09.

The company also recently disclosed an annual dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, June 3rd will be given a dividend of $1.5942 per share. This is a boost from China Telecom’s previous annual dividend of $1.47. The ex-dividend date of this dividend is Friday, May 31st. This represents a yield of 2.93%. China Telecom’s dividend payout ratio (DPR) is presently 34.65%.

Several research firms have weighed in on CHA. Goldman Sachs Group upgraded China Telecom from a “neutral” rating to a “buy” rating and set a $53.90 price objective on the stock in a research report on Sunday, April 14th. Zacks Investment Research cut China Telecom from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, New Street Research cut China Telecom from a “neutral” rating to a “reduce” rating in a research report on Monday, February 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $57.95.

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About China Telecom

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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Institutional Ownership by Quarter for China Telecom (NYSE:CHA)

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