Trade Report: Today, The Zacks Investment Research Downgrade China Mobile Ltd. (CHL) to Sell

Today, The Zacks Investment Research Downgrade China Mobile Ltd. (CHL) to Sell

China Mobile Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “

Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. cut shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, August 10th. Sanford C. Bernstein cut shares of China Mobile from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, Deutsche Bank AG upgraded shares of China Mobile from a “hold” rating to a “buy” rating in a research report on Monday, November 14th.

Shares of China Mobile (NYSE:CHL) opened at 53.90 on Wednesday. The firm has a 50-day moving average of $57.77 and a 200 day moving average of $58.95. China Mobile has a 52 week low of $50.12 and a 52 week high of $63.89. The firm has a market capitalization of $220.73 billion, a price-to-earnings ratio of 13.48 and a beta of 0.51.

Large investors have recently bought and sold shares of the company. 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. Mondrian Investment Partners LTD boosted its stake in China Mobile by 8.3% in the second quarter. Mondrian Investment Partners LTD now owns 366,486 shares of the company’s stock valued at $21,220,000 after buying an additional 28,043 shares during the period. Genesee Valley Trust Co. boosted its stake in China Mobile by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 6,053 shares of the company’s stock valued at $350,000 after buying an additional 138 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. Finally, TD Asset Management Inc. boosted its stake in China Mobile by 1.1% in the second quarter. TD Asset Management Inc. now owns 24,569 shares of the company’s stock valued at $1,423,000 after buying an additional 271 shares during the period. Institutional investors own 1.94% of the company’s stock.

About China Mobile

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses and Wireline Broadband businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.

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