China Mobile (NYSE:CHL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

A number of other research firms also recently issued reports on CHL. Jefferies Financial Group reissued a “hold” rating on shares of ZTE/Shs H Vtg 1.00 in a research report on Monday, March 11th. Citigroup reissued a “buy” rating on shares of China Mobile in a research report on Friday, March 22nd. Credit Suisse Group set a €92.00 ($106.98) price target on Bayerische Motoren Werke and gave the company a “buy” rating in a research report on Wednesday, May 8th. HSBC downgraded China Mobile from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Goldman Sachs Group set a GBX 4,300 ($56.19) price target on ASOS and gave the company a “buy” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.22.

China Mobile stock traded down $0.23 during trading on Tuesday, hitting $44.83. The company’s stock had a trading volume of 11,094 shares, compared to its average volume of 910,668. The stock has a market capitalization of $184.36 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The stock has a fifty day moving average price of $44.92. China Mobile has a 1-year low of $43.25 and a 1-year high of $55.84.

A number of hedge funds have recently bought and sold shares of CHL. Matthews International Capital Management LLC boosted its position in shares of China Mobile by 15.4% in the first quarter. Matthews International Capital Management LLC now owns 5,350,651 shares of the Wireless communications provider’s stock worth $272,830,000 after buying an additional 712,100 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of China Mobile by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,283,152 shares of the Wireless communications provider’s stock worth $253,541,000 after buying an additional 60,251 shares during the period. Northern Trust Corp boosted its position in shares of China Mobile by 10.8% in the first quarter. Northern Trust Corp now owns 3,577,829 shares of the Wireless communications provider’s stock worth $182,434,000 after buying an additional 348,649 shares during the period. LMR Partners LLP boosted its position in shares of China Mobile by 284.8% in the fourth quarter. LMR Partners LLP now owns 1,364,132 shares of the Wireless communications provider’s stock worth $65,621,000 after buying an additional 1,009,613 shares during the period. Finally, Edgbaston Investment Partners LLP boosted its position in shares of China Mobile by 0.6% in the first quarter. Edgbaston Investment Partners LLP now owns 1,060,838 shares of the Wireless communications provider’s stock worth $54,092,000 after buying an additional 6,400 shares during the period. 2.10% of the stock is owned by hedge funds and other institutional investors.

About China Mobile

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

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