According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “
A number of other research analysts also recently issued reports on CHA. Citigroup raised shares of China Telecom from a “neutral” rating to a “buy” rating in a report on Wednesday, October 16th. UBS Group raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.95.
Large investors have recently bought and sold shares of the company. Aperio Group LLC grew its stake in China Telecom by 15.0% in the 2nd quarter. Aperio Group LLC now owns 681,879 shares of the utilities provider’s stock valued at $34,114,000 after acquiring an additional 88,931 shares during the period. Acadian Asset Management LLC boosted its stake in China Telecom by 23.6% during the 2nd quarter. Acadian Asset Management LLC now owns 69,906 shares of the utilities provider’s stock worth $3,495,000 after purchasing an additional 13,331 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of China Telecom by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 68,613 shares of the utilities provider’s stock worth $3,433,000 after buying an additional 2,225 shares in the last quarter. Northern Trust Corp lifted its stake in shares of China Telecom by 1.1% in the second quarter. Northern Trust Corp now owns 48,561 shares of the utilities provider’s stock worth $2,429,000 after buying an additional 508 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in China Telecom during the second quarter worth about $2,345,000. Hedge funds and other institutional investors own 0.50% of the company’s stock.
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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