China Mobile Ltd. (CHL) Shares Gap Up to $61.56
China Mobile Ltd. (NYSE:CHl) gapped up prior to trading on Thursday . The stock had previously closed at $61.28, but opened at $61.56. China Mobile shares last traded at $62.73, with a volume of 254,488 shares.
Several equities research analysts recently issued reports on the stock. Goldman Sachs Group Inc. lowered shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of China Mobile from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Finally, Deutsche Bank AG lowered shares of China Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $72.57.
The firm has a 50-day moving average of $59.82 and a 200-day moving average of $56.53. The firm has a market capitalization of $257.34 billion and a price-to-earnings ratio of 15.73.
Other large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake 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. Wells Fargo & Company MN increased its stake in China Mobile by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 619,693 shares of the company’s stock worth $34,908,000 after buying an additional 163,121 shares during the period. Finally, Morgan Stanley increased its stake in China Mobile by 49.9% in the fourth quarter. Morgan Stanley now owns 903,633 shares of the company’s stock worth $50,902,000 after buying an additional 300,783 shares during the period.
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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