China Mobile Ltd. (NYSE:CHl) dropped 2% during mid-day trading on Wednesday . The company traded as low as $55.52 and last traded at $55.99, with a volume of 527,922 shares changing hands. The stock had previously closed at $57.15.

CHL has been the topic of a number of research reports. Deutsche Bank AG cut China Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Zacks Investment Research cut China Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, April 5th.

The firm’s 50 day moving average is $56.08 and its 200 day moving average is $55.25. The company has a market cap of $230.59 billion and a PE ratio of 14.13.

Other hedge funds and institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its position in shares of China Mobile by 166.3% in the fourth quarter. US Bancorp DE now owns 29,572 shares of the company’s stock valued at $1,666,000 after buying an additional 18,466 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of China Mobile by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 619,693 shares of the company’s stock valued at $34,908,000 after buying an additional 163,121 shares during the last quarter. Morgan Stanley boosted its position in shares of China Mobile by 49.9% in the fourth quarter. Morgan Stanley now owns 903,633 shares of the company’s stock valued at $50,902,000 after buying an additional 300,783 shares during the last quarter. Everett Harris & Co. CA boosted its position in shares of China Mobile by 0.8% in the fourth quarter. Everett Harris & Co. CA now owns 649,453 shares of the company’s stock valued at $36,584,000 after buying an additional 5,180 shares during the last quarter. Finally, Asturias Capital LLC bought a new position in China Mobile during the fourth quarter valued at approximately $12,181,000.

China Mobile Limited is an investment holding company. The Company is engaged in providing mobile telecommunications and related services in 31 provinces, autonomous regions and directly-administered municipalities in Mainland China and Hong Kong Special Administrative Region through its subsidiaries.

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