China Mobile Ltd. (CHL) Shares Gap Down to $62.84
China Mobile Ltd. (NYSE:CHl) shares gapped down prior to trading on Friday . The stock had previously closed at $62.47, but opened at $62.84. China Mobile shares last traded at $63.29, with a volume of 248,627 shares traded.
Several brokerages have recently issued reports on CHL. Goldman Sachs Group Inc. lowered China Mobile from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised China Mobile from a “sell” rating to a “hold” rating in a research report on Monday, April 18th. Finally, Deutsche Bank AG lowered China Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. China Mobile presently has an average rating of “Buy” and a consensus target price of $72.57.
The firm’s 50-day moving average price is $60.00 and its 200-day moving average price is $56.60. The company has a market capitalization of $259.47 billion and a P/E ratio of 15.49.
The firm also recently announced a semiannual dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.9599 per share. This is a boost from China Mobile’s previous semiannual dividend of $0.89. The ex-dividend date is Tuesday, August 30th. This represents a dividend yield of 3.03%.
Several hedge funds and institutional investors have made changes to their positions in the stock. Morgan Stanley raised 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 period. Wells Fargo & Company MN raised 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 last quarter. Finally, US Bancorp DE raised 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 last quarter.
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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