China Telecom Co. Limited (NYSE:CHA) Position Reduced by Private Advisor Group LLC

Private Advisor Group LLC lessened its stake in China Telecom Co. Limited (NYSE:CHA) by 7.0% in the 1st quarter, HoldingsChannel reports. The fund owned 16,220 shares of the utilities provider’s stock after selling 1,213 shares during the quarter. Private Advisor Group LLC’s holdings in China Telecom were worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of China Telecom by 8.0% during the first quarter. Signaturefd LLC now owns 5,929 shares of the utilities provider’s stock worth $332,000 after buying an additional 437 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of China Telecom by 7.7% during the first quarter. Parametric Portfolio Associates LLC now owns 66,388 shares of the utilities provider’s stock worth $3,718,000 after buying an additional 4,771 shares in the last quarter. Wetherby Asset Management Inc. purchased a new stake in shares of China Telecom during the first quarter worth $229,000. Raymond James & Associates purchased a new stake in shares of China Telecom during the first quarter worth $269,000. Finally, Parallel Advisors LLC grew its holdings in shares of China Telecom by 24.6% during the first quarter. Parallel Advisors LLC now owns 6,405 shares of the utilities provider’s stock worth $359,000 after buying an additional 1,263 shares in the last quarter. 0.52% of the stock is owned by institutional investors.

China Telecom stock opened at $49.13 on Friday. China Telecom Co. Limited has a 52-week low of $44.20 and a 52-week high of $57.09. The firm has a market cap of $39.76 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. The company has a quick ratio of 0.26, a current ratio of 0.28 and a debt-to-equity ratio of 0.13.

The company also recently declared an annual dividend, which will be paid on Monday, August 5th. Stockholders 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 is Friday, May 31st. This represents a dividend yield of 2.93%. China Telecom’s payout ratio is presently 37.53%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of China Telecom from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Goldman Sachs Group raised shares of China Telecom from a “neutral” rating to a “buy” rating and set a $53.90 target price for the company in a report on Sunday, April 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.95.

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China Telecom Company Profile

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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