Mobile TeleSystems OAO (NYSE:MBT) shares saw unusually-strong trading volume on Wednesday . Approximately 3,348,917 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 1,872,996 shares.The stock last traded at $9.01 and had previously closed at $9.07.

Several analysts recently commented on MBT shares. Vetr cut Mobile TeleSystems OAO from a “strong-buy” rating to a “buy” rating and set a $10.36 target price on the stock. in a research report on Friday, April 29th. Zacks Investment Research upgraded Mobile TeleSystems OAO from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, May 24th. Finally, Credit Suisse Group AG started coverage on Mobile TeleSystems OAO in a research report on Monday, June 20th. They issued an “outperform” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $9.69.

The stock has a market cap of $8.96 billion and a P/E ratio of 5.24. The stock’s 50-day moving average is $8.82 and its 200 day moving average is $8.41.

The firm also recently disclosed a dividend, which was paid on Tuesday, August 9th. Stockholders of record on Tuesday, July 5th were paid a $0.4203 dividend. The ex-dividend date of this dividend was Thursday, June 30th.

An institutional investor recently raised its position in Mobile TeleSystems OAO stock. KBC Group NV raised its position in shares of Mobile TeleSystems OAO (NYSE:MBT) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,763 shares of the company’s stock after buying an additional 20,506 shares during the period. KBC Group NV’s holdings in Mobile TeleSystems OAO were worth $1,630,000 as of its most recent filing with the SEC.

Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.

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