ABC Arbitrage SA Cuts Stock Position in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX)

Key Points

• ABC Arbitrage SA reduced its position in America Movil, owning 623,173 shares after a 37.4% decrease, now valued at approximately $8.86 million.
• The company recently announced a semi-annual dividend of $0.2732, marking a positive increase from the previous dividend of $0.24.
• Wall Street analysts have given America Movil a consensus rating of "Moderate Buy" with a target price of $16.92.

ABC Arbitrage SA reduced its position in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 37.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 623,173 shares of the Wireless communications provider's stock after selling 371,807 shares during the period. America Movil accounts for about 1.6% of ABC Arbitrage SA's portfolio, making the stock its 15th largest position. ABC Arbitrage SA's holdings in America Movil were worth $8,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raiffeisen Bank International AG grew its holdings in America Movil by 5.4% in the first quarter. Raiffeisen Bank International AG now owns 36,820 shares of the Wireless communications provider's stock worth $530,000 after purchasing an additional 1,900 shares during the last quarter. R Squared Ltd boosted its position in shares of America Movil by 393.2% in the 1st quarter. R Squared Ltd now owns 16,720 shares of the Wireless communications provider's stock worth $238,000 after purchasing an additional 13,330 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in America Movil by 3.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 38,604 shares of the Wireless communications provider's stock worth $549,000 after buying an additional 1,384 shares during the last quarter. Helium Advisors LLC acquired a new stake in America Movil in the first quarter worth about $170,000. Finally, US Bancorp DE grew its stake in shares of America Movil by 0.3% during the first quarter. US Bancorp DE now owns 232,570 shares of the Wireless communications provider's stock worth $3,307,000 after acquiring an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 6.30% of the company's stock.

America Movil Stock Performance

AMX stock traded up $0.81 during trading on Thursday, hitting $18.98. 4,056,773 shares of the company traded hands, compared to its average volume of 1,640,827. America Movil, S.A.B. de C.V. Unsponsored ADR has a 1 year low of $13.10 and a 1 year high of $19.02. The company has a market cap of $57.60 billion, a PE ratio of 20.19 and a beta of 0.80. The stock's 50-day simple moving average is $17.58 and its 200 day simple moving average is $16.07. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.75 and a quick ratio of 0.70.

America Movil (NYSE:AMX - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.11). America Movil had a net margin of 6.11% and a return on equity of 12.59%. The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $233.77 billion. On average, equities analysts expect that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 earnings per share for the current fiscal year.

America Movil Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 21st. Stockholders of record on Friday, July 11th were paid a dividend of $0.2732 per share. This represents a dividend yield of 300.0%. The ex-dividend date of this dividend was Friday, July 11th. This is an increase from America Movil's previous semi-annual dividend of $0.24. America Movil's dividend payout ratio is currently 54.26%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. HSBC upgraded shares of America Movil from a "hold" rating to a "buy" rating and lifted their price objective for the company from $15.50 to $17.50 in a research note on Monday, April 14th. Finally, Hsbc Global Res raised shares of America Movil from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.92.

America Movil Company Profile

América Móvil, SAB. de C.V. provides telecommunications services in Latin America and internationally. The company offers wireless and fixed voice services, including airtime, local, domestic, and international long-distance services; and network interconnection services. It provides data services, such as data centers, data administration, and hosting services to residential and corporate clients; value-added services, including Internet access, messaging and other wireless entertainment, and corporate services; data transmission, email services, instant messaging, content streaming, and interactive applications; and wireless security services, mobile payment solutions, machine-to-machine services, mobile banking, virtual private network services, and video calls and personal communications services.