China Mobile (CHL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of China Mobile (NYSE:CHL) from a buy rating to a hold rating in a report released on Thursday.

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, ValuEngine raised China Mobile from a hold rating to a buy rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. China Mobile presently has a consensus rating of Hold and an average price target of $53.00.

Shares of China Mobile (NYSE CHL) opened at $47.89 on Thursday. China Mobile has a 52 week low of $46.83 and a 52 week high of $58.83.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in China Mobile by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,144,288 shares of the Wireless communications provider’s stock worth $209,579,000 after acquiring an additional 195,614 shares during the last quarter. Renaissance Technologies LLC increased its stake in China Mobile by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,664,964 shares of the Wireless communications provider’s stock worth $185,227,000 after acquiring an additional 415,484 shares during the last quarter. Macquarie Group Ltd. increased its stake in China Mobile by 24.6% during the fourth quarter. Macquarie Group Ltd. now owns 3,392,565 shares of the Wireless communications provider’s stock worth $171,460,000 after acquiring an additional 668,853 shares during the last quarter. Ameriprise Financial Inc. increased its stake in China Mobile by 12.0% during the third quarter. Ameriprise Financial Inc. now owns 1,577,749 shares of the Wireless communications provider’s stock worth $78,986,000 after acquiring an additional 168,667 shares during the last quarter. Finally, BT Investment Management Ltd increased its stake in China Mobile by 45.4% during the fourth quarter. BT Investment Management Ltd now owns 1,209,908 shares of the Wireless communications provider’s stock worth $61,149,000 after acquiring an additional 377,653 shares during the last quarter. 1.94% of the stock is currently owned by institutional investors.

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China Mobile Company Profile

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) 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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