Zacks Investment Research upgraded shares of China Mobile Ltd. (NYSE:CHL) from a sell rating to a hold rating in a research report report published on Thursday morning.

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 analysts have also issued reports on CHL. Goldman Sachs Group Inc. lowered China Mobile from a conviction-buy rating to a buy rating in a report on Wednesday, August 10th. Sanford C. Bernstein lowered China Mobile from an outperform rating to a market perform rating in a report on Thursday, October 27th. Finally, Deutsche Bank AG upgraded China Mobile from a hold rating to a buy rating in a report on Monday.

Shares of China Mobile (NYSE:CHL) remained flat at $54.39 on Thursday. The company had a trading volume of 77,866 shares. The firm’s 50-day moving average is $58.64 and its 200-day moving average is $59.00. China Mobile has a 52-week low of $50.12 and a 52-week high of $63.89. The company has a market capitalization of $222.73 billion, a P/E ratio of 13.60 and a beta of 0.51.

Several institutional investors have recently modified their holdings of CHL. Lazard Asset Management LLC increased its position in shares of China Mobile by 1.1% in the third quarter. Lazard Asset Management LLC now owns 15,936,050 shares of the company’s stock worth $980,384,000 after buying an additional 173,816 shares during the last quarter. Matthews International Capital Management LLC increased its position in China Mobile by 3.4% in the second quarter. Matthews International Capital Management LLC now owns 6,257,915 shares of the company’s stock valued at $362,333,000 after buying an additional 205,500 shares during the last quarter. Harding Loevner LP increased its position in China Mobile by 3.0% in the third quarter. Harding Loevner LP now owns 4,074,672 shares of the company’s stock valued at $250,674,000 after buying an additional 119,157 shares during the last quarter. FMR LLC increased its position in China Mobile by 20.9% in the second quarter. FMR LLC now owns 3,964,469 shares of the company’s stock valued at $229,543,000 after buying an additional 684,998 shares during the last quarter. Finally, Cambiar Investors LLC increased its position in China Mobile by 32.5% in the third quarter. Cambiar Investors LLC now owns 3,945,655 shares of the company’s stock valued at $242,737,000 after buying an additional 967,624 shares during the last quarter. 1.95% of the stock is currently owned by institutional investors and hedge funds.

About China Mobile

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses and Wireline Broadband businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.

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