Wetherby Asset Management Inc. reduced its position in shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 12,626 shares of the Wireless communications provider’s stock after selling 1,200 shares during the period. Wetherby Asset Management Inc.’s holdings in China Mobile (Hong Kong) were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Reilly Financial Advisors LLC increased its position in shares of China Mobile (Hong Kong) by 6.6% in the first quarter. Reilly Financial Advisors LLC now owns 17,771 shares of the Wireless communications provider’s stock worth $981,000 after buying an additional 1,108 shares in the last quarter. Bank of Montreal Can increased its position in shares of China Mobile (Hong Kong) by 25.3% in the second quarter. Bank of Montreal Can now owns 230,423 shares of the Wireless communications provider’s stock worth $12,233,000 after buying an additional 46,551 shares in the last quarter. NorthCoast Asset Management LLC increased its position in shares of China Mobile (Hong Kong) by 147.6% in the first quarter. NorthCoast Asset Management LLC now owns 86,441 shares of the Wireless communications provider’s stock worth $4,774,000 after buying an additional 51,529 shares in the last quarter. Morgan Stanley increased its position in shares of China Mobile (Hong Kong) by 13.9% in the first quarter. Morgan Stanley now owns 868,708 shares of the Wireless communications provider’s stock worth $47,978,000 after buying an additional 105,974 shares in the last quarter. Finally, Credit Suisse AG increased its position in shares of China Mobile (Hong Kong) by 35.6% in the first quarter. Credit Suisse AG now owns 431,036 shares of the Wireless communications provider’s stock worth $23,807,000 after buying an additional 113,056 shares in the last quarter. Institutional investors and hedge funds own 1.97% of the company’s stock.

China Mobile (NYSE CHL) opened at 56.55 on Friday. China Mobile has a one year low of $51.30 and a one year high of $63.89. The stock has a 50 day moving average price of $53.23 and a 200-day moving average price of $54.72. The stock has a market capitalization of $231.58 billion, a P/E ratio of 14.19 and a beta of 0.30.

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CHL has been the topic of a number of analyst reports. BidaskClub downgraded China Mobile (Hong Kong) from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded China Mobile (Hong Kong) from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, June 27th. Finally, Morgan Stanley downgraded China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $60.00.

About China Mobile (Hong Kong)

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

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