Zacks Investment Research cut shares of China Mobile Ltd. (NYSE:CHL) from a buy rating to a hold rating in a research note published 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. downgraded shares of China Mobile from a buy rating to a neutral rating in a research report on Thursday, September 22nd.
Shares of China Mobile (NYSE:CHL) opened at 60.96 on Wednesday. China Mobile has a 52 week low of $50.12 and a 52 week high of $63.89. The company has a market cap of $249.64 billion, a P/E ratio of 14.90 and a beta of 0.35. The firm has a 50-day moving average of $61.67 and a 200 day moving average of $58.94.
The business also recently declared a semiannual dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 1st were given a dividend of $0.9599 per share. This represents a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, August 30th. This is an increase from China Mobile’s previous semiannual dividend of $0.89.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in China Mobile during the second quarter valued at $111,000. Tower Research Capital LLC TRC boosted 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 in the last quarter. Signaturefd LLC boosted 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 in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of China Mobile by 40.7% in the third quarter. Integrated Investment Consultants LLC now owns 2,380 shares of the company’s stock valued at $145,000 after buying an additional 689 shares in the last quarter. Finally, Flow Traders U.S. LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 1.91% 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.