China Mobile (NYSE:CHL) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of China Mobile (NYSE:CHL) from a sell rating to a hold rating in a report issued on Tuesday, December 19th.

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. “

CHL has been the topic of a number of other research reports. ValuEngine upgraded shares of China Mobile from a hold rating to a buy rating in a report on Friday, December 1st. Bank of America started coverage on shares of China Mobile in a report on Wednesday, August 30th. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $57.00.

Shares of China Mobile (NYSE:CHL) traded down $0.02 during midday trading on Tuesday, hitting $49.85. 633,549 shares of the company traded hands, compared to its average volume of 694,718. The stock has a market capitalization of $204,220.00, a PE ratio of 11.95, a P/E/G ratio of 2.65 and a beta of 0.31. China Mobile has a one year low of $48.70 and a one year high of $58.83.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Allied Advisory Services Inc. raised its position in China Mobile by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 4,289 shares of the Wireless communications provider’s stock worth $227,000 after acquiring an additional 23 shares during the period. National Asset Management Inc. raised its position in shares of China Mobile by 2.5% during the 2nd quarter. National Asset Management Inc. now owns 4,016 shares of the Wireless communications provider’s stock valued at $215,000 after purchasing an additional 99 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of China Mobile by 0.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 22,978 shares of the Wireless communications provider’s stock valued at $1,220,000 after purchasing an additional 110 shares during the period. MML Investors Services LLC raised its position in shares of China Mobile by 8.7% during the 2nd quarter. MML Investors Services LLC now owns 4,529 shares of the Wireless communications provider’s stock valued at $240,000 after purchasing an additional 363 shares during the period. Finally, Rikoon Group LLC raised its position in shares of China Mobile by 1.1% during the 2nd quarter. Rikoon Group LLC now owns 34,765 shares of the Wireless communications provider’s stock valued at $1,873,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 2.00% of the company’s stock.

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About China Mobile

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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