China Mobile Ltd. (CHL) Shares Gap Up to $61.56
Shares of 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 changing hands.
CHL has been the subject of a number of research reports. Zacks Investment Research raised shares of China Mobile from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Deutsche Bank AG lowered shares of China Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. lowered shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. China Mobile currently has a consensus rating of “Buy” and a consensus price target of $72.57.
The company has a 50 day moving average price of $60.00 and a 200-day moving average price of $56.60. The firm has a market capitalization of $259.47 billion and a PE ratio of 15.49.
The firm also recently disclosed a semiannual dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 1st will be issued a $0.9599 dividend. This is a positive change from China Mobile’s previous semiannual dividend of $0.89. This represents a yield of 3.03%. The ex-dividend date is Tuesday, August 30th.
Several hedge funds have recently modified their holdings of CHL. Morgan Stanley increased its stake in shares of 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. Wells Fargo & Company MN increased its stake 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 worth $34,908,000 after buying an additional 163,121 shares during the period. Finally, US Bancorp DE increased its stake 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 worth $1,666,000 after buying an additional 18,466 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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