China Mobile Ltd. (CHL) Raised to “Buy” at Zacks Investment Research
China Mobile Ltd. (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $68.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 11.55% from the company’s current price.
According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “
Separately, Goldman Sachs Group Inc. downgraded China Mobile from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, August 10th.
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Shares of China Mobile (NYSE:CHL) traded down 3.42% during midday trading on Tuesday, reaching $60.96. 805,242 shares of the company’s stock traded hands. China Mobile has a 52 week low of $50.12 and a 52 week high of $63.89. The company has a market capitalization of $249.64 billion, a PE ratio of 14.90 and a beta of 0.35. The stock’s 50 day moving average is $61.79 and its 200-day moving average is $58.86.
The business also recently declared a semiannual dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.9599 per share. This represents a dividend yield of 3.03%. The ex-dividend date is Tuesday, August 30th. This is a boost from China Mobile’s previous semiannual dividend of $0.89.
Several large investors have recently added to or reduced their stakes in CHL. Matthews International Capital Management LLC boosted its stake in China Mobile by 3.4% in the second quarter. Matthews International Capital Management LLC now owns 6,257,915 shares of the company’s stock valued at $362,333,000 after buying an additional 205,500 shares during the period. Harding Loevner LP boosted its stake in China Mobile by 3.0% in the third quarter. Harding Loevner LP now owns 4,074,672 shares of the company’s stock valued at $250,674,000 after buying an additional 119,157 shares during the period. FMR LLC boosted its stake in China Mobile by 20.9% in the second quarter. FMR LLC now owns 3,964,469 shares of the company’s stock valued at $229,543,000 after buying an additional 684,998 shares during the period. Cambiar Investors LLC boosted its stake in China Mobile by 11.2% in the second quarter. Cambiar Investors LLC now owns 2,978,031 shares of the company’s stock valued at $172,428,000 after buying an additional 299,787 shares during the period. Finally, Scharf Investments LLC boosted its stake in China Mobile by 5.4% in the second quarter. Scharf Investments LLC now owns 1,879,468 shares of the company’s stock valued at $108,821,000 after buying an additional 95,683 shares during the period. Institutional investors and hedge funds own 1.90% of the company’s stock.
About China Mobile
China Mobile Limited is engaged in the provision of telecommunications and related services. The Company offers certain Internet-related services, including mobile Internet, digital services, and certain applications and information services. The Company’s businesses primarily consist of voice business and data business.
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