Today, China Mobile Ltd. (CHL) Cut to “Sell” at The Zacks Investment Research

Today, China Mobile Ltd. (CHL) Cut to “Sell” at The Zacks Investment Research

Zacks Investment Research cut shares of China Mobile Ltd. (NYSE:CHL) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

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

Shares of China Mobile (NYSE:CHL) opened at 54.37 on Wednesday. The stock has a market cap of $222.65 billion, a P/E ratio of 13.80 and a beta of 0.51. The stock has a 50 day moving average of $57.14 and a 200 day moving average of $58.98. China Mobile has a one year low of $50.12 and a one year high of $63.89.

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in China Mobile by 1.1% in the third quarter. Lazard Asset Management LLC now owns 15,936,050 shares of the company’s stock worth $980,384,000 after buying an additional 173,816 shares during the period. Matthews International Capital Management LLC boosted its stake in China Mobile by 3.4% in the second quarter. Matthews International Capital Management LLC now owns 6,257,915 shares of the company’s stock worth $362,333,000 after buying an additional 205,500 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 worth $250,674,000 after buying an additional 119,157 shares during the period. FMR LLC boosted its position in China Mobile by 20.9% in the second quarter. FMR LLC now owns 3,964,469 shares of the company’s stock valued at $229,543,000 after buying an additional 684,998 shares during the last quarter. Finally, Cambiar Investors LLC boosted its position in China Mobile by 32.5% in the third quarter. Cambiar Investors LLC now owns 3,945,655 shares of the company’s stock valued at $242,737,000 after buying an additional 967,624 shares during the last quarter. 1.88% of the stock is currently owned by institutional investors and hedge funds.

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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