China Mobile Ltd. (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $68.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 10.50% from the company’s previous close.
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. cut China Mobile from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, August 10th.
China Mobile (NYSE:CHL) opened at 61.54 on Tuesday. China Mobile has a 12-month low of $50.12 and a 12-month high of $63.89. The company has a 50 day moving average price of $61.76 and a 200-day moving average price of $58.88. The company has a market capitalization of $252.01 billion, a PE ratio of 15.05 and a beta of 0.35.
The business also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.9599 per share. This is a positive change from China Mobile’s previous semiannual dividend of $0.89. This represents a dividend yield of 3.03%. The ex-dividend date was Tuesday, August 30th.
Several hedge funds have recently added to or reduced their stakes in the company. Ngam Advisors L.P. raised its stake in China Mobile by 59.5% in the first quarter. Ngam Advisors L.P. now owns 57,878 shares of the company’s stock valued at $3,209,000 after buying an additional 21,584 shares during the period. BlackRock Group LTD raised its stake in China Mobile by 11.9% in the first quarter. BlackRock Group LTD now owns 125,530 shares of the company’s stock valued at $6,961,000 after buying an additional 13,398 shares during the period. M&T Bank Corp raised its stake in China Mobile by 13.3% in the first quarter. M&T Bank Corp now owns 32,110 shares of the company’s stock valued at $1,781,000 after buying an additional 3,764 shares during the period. BB&T Securities LLC raised its stake in China Mobile by 11.5% in the first quarter. BB&T Securities LLC now owns 12,566 shares of the company’s stock valued at $696,000 after buying an additional 1,293 shares during the period. Finally, Scotia Capital Inc. raised its stake in China Mobile by 39.2% in the first quarter. Scotia Capital Inc. now owns 5,695 shares of the company’s stock valued at $316,000 after buying an additional 1,604 shares during the period. 1.90% of the stock is currently owned by institutional investors.
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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