China Mobile (CHL) Rating Lowered to Hold at Zacks Investment Research
China Mobile (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 upgraded shares of China Mobile from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. China Mobile has a consensus rating of “Hold” and an average target price of $58.00.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC acquired a new position in China Mobile in the fourth quarter valued at approximately $122,000. Westside Investment Management Inc. increased its stake in China Mobile by 507.6% in the third quarter. Westside Investment Management Inc. now owns 3,099 shares of the Wireless communications provider’s stock valued at $156,000 after purchasing an additional 2,589 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in China Mobile by 61.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,237 shares of the Wireless communications provider’s stock valued at $164,000 after purchasing an additional 1,237 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in China Mobile by 168.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,595 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 2,255 shares in the last quarter. Finally, National Asset Management Inc. increased its stake in China Mobile by 2.5% in the second 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 in the last quarter. Institutional investors and hedge funds own 1.92% 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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