Mobile TeleSystems OAO (NYSE:MBT) shares rose 2.6% during trading on Monday following a dividend announcement from the company. The stock traded as high as $7.87 and last traded at $7.83, with a volume of 1,216,606 shares traded. The stock had previously closed at $7.63.

The newly announced dividend which will be paid on Friday, October 14th. Stockholders of record on Friday, October 14th will be issued a $0.317 dividend. The ex-dividend date is Wednesday, October 12th. Mobile TeleSystems OAO’s payout ratio is presently 70.59%.

MBT has been the subject of several recent analyst reports. Credit Suisse Group AG initiated coverage on Mobile TeleSystems OAO in a report on Monday, June 20th. They issued an “outperform” rating and a $10.00 price objective for the company. Zacks Investment Research downgraded Mobile TeleSystems OAO from a “buy” rating to a “sell” rating in a report on Thursday, August 11th. Finally, HSBC downgraded Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.69.

The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 5.33 and a beta of 1.20. The stock’s 50 day moving average is $8.10 and its 200 day moving average is $8.60.

A number of large investors have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $100,000. Quantbot Technologies LP bought a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. Profund Advisors LLC bought a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. OLD Mission Capital LLC bought a new stake in shares of Mobile TeleSystems OAO during the first quarter valued at $119,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of Mobile TeleSystems OAO during the first quarter valued at $121,000. Institutional investors own 29.73% of the company’s stock.

Mobile TeleSystems OAO Company Profile

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.

5 Day Chart for NYSE:MBT

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