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 note issued on Tuesday. The firm presently has a $68.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.55% from the stock’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. lowered China Mobile from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, August 10th.
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Shares of China Mobile (NYSE:CHL) traded down 3.42% on Tuesday, hitting $60.96. The stock had a trading volume of 805,242 shares. The stock has a 50 day moving average price of $61.79 and a 200-day moving average price of $58.86. The company has a market cap of $249.64 billion, a price-to-earnings ratio of 14.90 and a beta of 0.35. China Mobile has a 12-month low of $50.12 and a 12-month high of $63.89.
The business also recently announced a semiannual dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 1st will be issued a $0.9599 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This is a positive change from China Mobile’s previous semiannual dividend of $0.89. This represents a yield of 3.03%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in China Mobile during the second quarter worth about $111,000. Tower Research Capital LLC TRC raised its position in China Mobile by 14.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,113 shares of the company’s stock worth $122,000 after buying an additional 260 shares during the period. Signaturefd LLC raised its position in China Mobile by 1,873.5% in the second quarter. Signaturefd LLC now owns 2,230 shares of the company’s stock worth $129,000 after buying an additional 2,117 shares during the period. Flow Traders U.S. LLC raised its position in China Mobile by 1,868.8% in the second quarter. Flow Traders U.S. LLC now owns 3,465 shares of the company’s stock worth $201,000 after buying an additional 3,289 shares during the period. Finally, Rothschild Investment Corp IL bought a new position in China Mobile during the second quarter worth about $218,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.
China Mobile Company Profile
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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