China Mobile Ltd. (CHL) Downgraded to “Hold” at Zacks Investment Research
China Mobile Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. cut China Mobile from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, August 10th.
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China Mobile (NYSE:CHL) traded up 0.95% during trading on Wednesday, reaching $61.54. The company’s stock had a trading volume of 471,485 shares. The company 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 capitalization of $252.01 billion, a PE ratio of 15.05 and a beta of 0.35. China Mobile has a 52 week low of $50.12 and a 52 week high of $63.89.
The firm also recently declared a semiannual dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 1st were issued a $0.9599 dividend. This is a boost from China Mobile’s previous semiannual dividend of $0.89. This represents a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, August 30th.
Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in China Mobile by 0.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,886 shares of the company’s stock valued at $457,000 after buying an additional 49 shares in the last quarter. Genesee Valley Trust Co. boosted its stake in China Mobile by 1.3% in the third quarter. Genesee Valley Trust Co. now owns 6,131 shares of the company’s stock valued at $377,000 after buying an additional 78 shares in the last quarter. Telemus Capital LLC boosted its stake in China Mobile by 1.5% in the third quarter. Telemus Capital LLC now owns 8,439 shares of the company’s stock valued at $519,000 after buying an additional 123 shares in the last quarter. Avalon Advisors LLC boosted its stake in China Mobile by 0.8% in the first quarter. Avalon Advisors LLC now owns 16,805 shares of the company’s stock valued at $932,000 after buying an additional 132 shares in the last quarter. Finally, Cypress Wealth Advisors LLC boosted its stake in China Mobile by 2.9% in the second quarter. Cypress Wealth Advisors LLC now owns 5,528 shares of the company’s stock valued at $320,000 after buying an additional 155 shares in the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.
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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