Zacks Investment Research lowered shares of China Mobile Ltd. (NYSE:CHL) from a buy rating to a hold rating in a report published 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. cut China Mobile from a buy rating to a neutral rating in a research note on Thursday, September 22nd.

China Mobile (NYSE:CHL) traded down 2.06% on Wednesday, reaching $60.27. The company had a trading volume of 115,680 shares. China Mobile has a one year low of $50.12 and a one year high of $63.89. The company’s 50 day moving average is $61.76 and its 200-day moving average is $58.88. The firm has a market capitalization of $246.81 billion, a price-to-earnings ratio of 14.74 and a beta of 0.35.

The business also recently announced a semiannual dividend, which was paid on Tuesday, October 11th. Shareholders of record on Thursday, September 1st were given a $0.9599 dividend. This represents a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, August 30th. This is an increase from China Mobile’s previous semiannual dividend of $0.89.

Large investors have recently bought and sold shares of the company. Sensato Investors LLC acquired a new stake in shares of China Mobile during the first quarter worth about $427,000. Quentec Asset Management LLC increased its stake 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 worth $14,911,000 after buying an additional 93,911 shares during the last quarter. Steinberg Global Asset Management increased its stake 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 worth $536,000 after buying an additional 673 shares during the last quarter. Clark Capital Management Group Inc. increased its stake 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 worth $2,192,000 after buying an additional 7,948 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake 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 worth $13,124,000 after buying an additional 6,343 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:CHL

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