China Mobile Ltd. (CHL) Stock Rating Lowered by Zacks Investment Research
China Mobile Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. lowered shares of China Mobile from a “buy” rating to a “neutral” rating in a research note on Thursday, September 22nd.
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Shares of China Mobile (NYSE:CHL) traded up 0.95% on Wednesday, hitting $61.54. The company had a trading volume of 471,485 shares. The stock has a market cap of $252.01 billion, a PE ratio of 15.05 and a beta of 0.35. The company has a 50-day moving average of $61.79 and a 200 day moving average of $58.86. China Mobile has a 12 month low of $50.12 and a 12 month high of $63.89.
The firm also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 1st were paid a dividend of $0.9599 per share. The ex-dividend date of this dividend was 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 have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in China Mobile during the second quarter valued at approximately $111,000. Tower Research Capital LLC TRC increased its stake in shares of China Mobile by 14.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,113 shares of the company’s stock valued at $122,000 after buying an additional 260 shares during the period. Signaturefd LLC increased its stake in shares of China Mobile by 1,873.5% in the second quarter. Signaturefd LLC now owns 2,230 shares of the company’s stock valued at $129,000 after buying an additional 2,117 shares during the period. Flow Traders U.S. LLC increased its stake in shares of 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 valued at $201,000 after buying an additional 3,289 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of China Mobile during the second quarter valued at approximately $226,000. 1.90% of the stock is owned by institutional investors and hedge funds.
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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