China Mobile Ltd. (CHL) Stock Rating Lowered by Zacks Investment Research
China Mobile Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “
Separately, Goldman Sachs Group Inc. downgraded China Mobile from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, August 10th.
China Mobile (NYSE:CHL) opened at 60.76 on Wednesday. China Mobile has a 1-year low of $50.12 and a 1-year high of $63.89. The firm’s 50-day moving average price is $61.71 and its 200 day moving average price is $58.89. The firm has a market capitalization of $248.82 billion, a price-to-earnings ratio of 14.86 and a beta of 0.35.
The firm also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.9599 per share. This is an increase from China Mobile’s previous semiannual dividend of $0.89. This represents a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, August 30th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sensato Investors LLC acquired a new position in shares of China Mobile during the first quarter valued at approximately $427,000. Quentec Asset Management LLC increased its position in shares of China Mobile by 53.7% in the first quarter. Quentec Asset Management LLC now owns 268,911 shares of the company’s stock valued at $14,911,000 after buying an additional 93,911 shares in the last quarter. Steinberg Global Asset Management increased its position in shares of China Mobile by 7.5% in the first quarter. Steinberg Global Asset Management now owns 9,672 shares of the company’s stock valued at $536,000 after buying an additional 673 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of China Mobile by 25.2% in the first quarter. Clark Capital Management Group Inc. now owns 39,535 shares of the company’s stock valued at $2,192,000 after buying an additional 7,948 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of China Mobile by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 236,680 shares of the company’s stock valued at $13,124,000 after buying an additional 6,343 shares in the last quarter. Institutional investors own 1.90% of the company’s stock.
China Mobile Company Profile
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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