Leavell Investment Management Inc. increased its holdings in shares of China Telecom Co. Limited (NYSE:CHA) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,800 shares of the utilities provider’s stock after acquiring an additional 2,300 shares during the quarter. Leavell Investment Management Inc.’s holdings in China Telecom were worth $885,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in CHA. Sustainable Insight Capital Management LLC bought a new position in China Telecom during the fourth quarter worth about $104,000. LMR Partners LLP bought a new position in China Telecom during the fourth quarter worth about $5,304,000. Renaissance Technologies LLC increased its position in China Telecom by 63.0% during the third quarter. Renaissance Technologies LLC now owns 210,700 shares of the utilities provider’s stock worth $10,413,000 after acquiring an additional 81,400 shares during the period. Northern Trust Corp grew its stake in China Telecom by 127.9% during the fourth 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 in the last quarter. Finally, Millennium Management LLC grew its stake in China Telecom by 15.5% during the fourth 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 in the last quarter. 0.55% of the stock is currently owned by institutional investors and hedge funds.
CHA opened at $54.57 on Wednesday. China Telecom Co. Limited has a 1-year low of $44.20 and a 1-year high of $57.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.26 and a current ratio of 0.28. The company has a market capitalization of $44.04 billion, a PE ratio of 14.32, a P/E/G ratio of 1.60 and a beta of 0.82.
The firm also recently announced an annual dividend, which will be paid on Monday, August 5th. Investors of record on Monday, June 3rd will be given a dividend of $1.5942 per share. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from China Telecom’s previous annual dividend of $1.47. This represents a yield of 2.93%. China Telecom’s dividend payout ratio (DPR) is currently 34.65%.
CHA has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of China Telecom from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. New Street Research downgraded shares of China Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 22nd. Finally, Goldman Sachs Group upgraded shares of China Telecom from a “neutral” rating to a “buy” rating and set a $53.90 price objective on the stock in a research note on Sunday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.95.
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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