China Mobile Ltd. (CHL) Shares Gap Down to $62.84
China Mobile Ltd. (NYSE:CHl) 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 trading hands.
Several research firms recently weighed in on CHL. Goldman Sachs Group Inc. cut shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank AG cut shares of China Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Finally, Zacks Investment Research upgraded shares of China Mobile from a “sell” rating to a “hold” rating in a research note on Monday, April 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.57.
The firm has a market capitalization of $259.47 billion and a PE ratio of 15.86. The company has a 50-day moving average price of $60.00 and a 200 day moving average price of $56.60.
The firm also recently declared a semiannual dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 1st will be paid a $0.9599 dividend. This is a boost from China Mobile’s previous semiannual dividend of $0.89. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a yield of 3.03%.
A number of large investors have modified their holdings of the stock. 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 valued at $1,666,000 after buying an additional 18,466 shares during the last quarter. Wells Fargo & Company MN raised its position in China Mobile by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 619,693 shares of the company’s stock valued at $34,908,000 after buying an additional 163,121 shares in the last quarter. Finally, Morgan Stanley raised its position in 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 in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.