Mobile TeleSystems OAO (NYSE:MBT) shares rose 3.2% during trading on Friday . The company traded as high as $8.23 and last traded at $8.18, with a volume of 907,208 shares trading hands. The stock had previously closed at $7.93.

MBT has been the topic of a number of recent research reports. HSBC cut shares of Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group AG initiated coverage on Mobile TeleSystems OAO in a research note on Monday, June 20th. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Zacks Investment Research lowered Mobile TeleSystems OAO from a “buy” rating to a “sell” rating in a research note on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.69.

The firm has a market capitalization of $8.10 billion and a P/E ratio of 5.57. The company has a 50 day moving average price of $8.73 and a 200 day moving average price of $8.50.

The firm also recently declared a dividend, which was paid on Tuesday, August 9th. Investors of record on Tuesday, July 5th were issued 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 Mobile TeleSystems OAO (NYSE:MBT) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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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