China Mobile (CHL) Market Value Rose While Lazard Asset Management LLC Has Raised Its Holding

October 13, 2018 - By Peter Erickson

China Mobile Limited (NYSE:CHL) Logo

Lazard Asset Management Llc increased its stake in China Mobile (CHL) by 13.63% based on its latest 2018Q2 regulatory filing with the SEC. Lazard Asset Management Llc bought 2.83 million shares as the company’s stock rose 6.55% with the market. The institutional investor held 23.62M shares of the telecommunications equipment company at the end of 2018Q2, valued at $1.05B, up from 20.78M at the end of the previous reported quarter. Lazard Asset Management Llc who had been investing in China Mobile for a number of months, seems to be bullish on the $201.17 billion market cap company. The stock increased 0.14% or $0.07 during the last trading session, reaching $49.25. About 1.57M shares traded or 67.90% up from the average. China Mobile Limited (NYSE:CHL) has declined 8.59% since October 13, 2017 and is downtrending. It has underperformed by 24.21% the S&P500.

Lazard Asset Management Llc, which manages about $51.63B US Long portfolio, decreased its stake in Lowes Cos Inc (NYSE:LOW) by 1.36M shares to 7.81M shares, valued at $746.74 million in 2018Q2, according to the filing. It also reduced its holding in Oil States Intl (NYSE:OIS) by 106,436 shares in the quarter, leaving it with 289,670 shares, and cut its stake in Apple Inc (NASDAQ:AAPL).

Another recent and important China Mobile Limited (NYSE:CHL) news was published by Fool.com which published an article titled: “3 High-Yield Stocks to Hold Forever” on September 16, 2018.

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