Janney Montgomery Scott LLC Has $1.71 Million Holdings in China Mobile Ltd. (CHL)
Janney Montgomery Scott LLC boosted its stake in China Mobile Ltd. (NYSE:CHL) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,902 shares of the Wireless communications provider’s stock after purchasing an additional 4,909 shares during the quarter. Janney Montgomery Scott LLC’s holdings in China Mobile were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. boosted its stake in China Mobile by 507.6% in the 3rd quarter. Westside Investment Management Inc. now owns 3,099 shares of the Wireless communications provider’s stock worth $156,000 after purchasing an additional 2,589 shares during the period. Israel Discount Bank of New York boosted its position in shares of China Mobile by 43.0% during the 2nd quarter. Israel Discount Bank of New York now owns 3,075 shares of the Wireless communications provider’s stock valued at $163,000 after acquiring an additional 925 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of China Mobile by 61.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,237 shares of the Wireless communications provider’s stock valued at $164,000 after acquiring an additional 1,237 shares during the last quarter. High Pointe Capital Management LLC bought a new stake in shares of China Mobile during the 2nd quarter valued at about $205,000. Finally, Well Done LLC bought a new stake in shares of China Mobile during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 2.00% of the company’s stock.
CHL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded China Mobile from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, August 28th. ValuEngine upgraded China Mobile from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Bank of America initiated coverage on China Mobile in a research report on Wednesday, August 30th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. China Mobile has a consensus rating of “Hold” and an average target price of $57.00.
About China Mobile
China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.
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