Zacks Investment Research upgraded shares of China Mobile Ltd. (NYSE:CHL) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $68.00 price objective on the stock.
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 conviction-buy rating to a buy rating in a report on Wednesday, August 10th.
China Mobile (NYSE:CHL) opened at 60.96 on Tuesday. The company has a 50 day moving average price of $61.79 and a 200-day moving average price of $58.86. The firm has a market capitalization of $249.64 billion, a PE ratio of 14.90 and a beta of 0.35. China Mobile has a one year low of $50.12 and a one year high of $63.89.
The company also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 1st were issued a $0.9599 dividend. This is a positive change from China Mobile’s previous semiannual dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a yield of 3.03%.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in China Mobile during the second quarter valued at about $111,000. Tower Research Capital LLC TRC raised its position 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 in the last quarter. Signaturefd LLC raised its position 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 in the last quarter. Flow Traders U.S. LLC raised its position 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 in the last quarter. Finally, Rothschild Investment Corp IL bought a new position in shares of China Mobile during the second quarter valued at $218,000. Institutional investors and hedge funds 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.