China Mobile Ltd. (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $68.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.55% from the stock’s current price.

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. lowered China Mobile from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, August 10th.

China Mobile (NYSE:CHL) traded down 3.42% on Tuesday, hitting $60.96. The stock had a trading volume of 805,242 shares. The company’s 50 day moving average is $61.79 and its 200-day moving average is $58.86. China Mobile has a 12 month low of $50.12 and a 12 month high of $63.89. The stock has a market cap of $249.64 billion, a P/E ratio of 14.90 and a beta of 0.35.

The firm also recently announced a semiannual dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 1st will be given a dividend of $0.9599 per share. This is a positive change from China Mobile’s previous semiannual dividend of $0.89. This represents a yield of 3.03%. The ex-dividend date is Tuesday, August 30th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ngam Advisors L.P. raised its position in shares of China Mobile by 59.5% in the first quarter. Ngam Advisors L.P. now owns 57,878 shares of the company’s stock valued at $3,209,000 after buying an additional 21,584 shares in the last quarter. BlackRock Group LTD raised its position in shares of China Mobile by 11.9% in the first quarter. BlackRock Group LTD now owns 125,530 shares of the company’s stock valued at $6,961,000 after buying an additional 13,398 shares in the last quarter. M&T Bank Corp raised its position in shares of China Mobile by 13.3% in the first quarter. M&T Bank Corp now owns 32,110 shares of the company’s stock valued at $1,781,000 after buying an additional 3,764 shares in the last quarter. BB&T Securities LLC raised its position in shares of China Mobile by 11.5% in the first quarter. BB&T Securities LLC now owns 12,566 shares of the company’s stock valued at $696,000 after buying an additional 1,293 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in shares of China Mobile by 39.2% in the first quarter. Scotia Capital Inc. now owns 5,695 shares of the company’s stock valued at $316,000 after buying an additional 1,604 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors.

About China Mobile

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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