China Mobile Ltd. (NYSE:CHl) gapped up before the market opened on Wednesday . The stock had previously closed at $59.51, but opened at $59.75. China Mobile shares last traded at $60.43, with a volume of 362,590 shares.

CHL has been the subject of a number of analyst reports. Zacks Investment Research raised China Mobile from a “sell” rating to a “hold” rating in a research note on Monday, April 18th. Deutsche Bank AG cut China Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th.

The stock’s 50-day moving average price is $57.13 and its 200-day moving average price is $55.43. The firm has a market capitalization of $247.96 billion and a PE ratio of 15.27.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in China Mobile by 85.9% in the fourth quarter. Sei Investments Co. now owns 23,493 shares of the company’s stock worth $1,324,000 after buying an additional 10,856 shares during the period. Stevens Capital Management LP purchased a new position in China Mobile during the fourth quarter worth approximately $1,547,000. US Bancorp DE raised its position in China Mobile by 166.3% in the fourth quarter. US Bancorp DE now owns 29,572 shares of the company’s stock worth $1,666,000 after buying an additional 18,466 shares during the period. PNC Financial Services Group Inc. raised its position in China Mobile by 397.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 55,427 shares of the company’s stock worth $3,122,000 after buying an additional 44,290 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in China Mobile by 11.9% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 93,804 shares of the company’s stock worth $5,284,000 after buying an additional 10,000 shares during the period.

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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