ABC Arbitrage SA Decreases Stake 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 trimmed its holdings in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 37.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 holdings, making the stock its 15th biggest holding. ABC Arbitrage SA's holdings in America Movil were worth $8,862,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMX. Transce3nd LLC acquired a new stake in shares of America Movil in the fourth quarter valued at about $26,000. Parvin Asset Management LLC acquired a new stake in shares of America Movil in the fourth quarter valued at about $39,000. Garde Capital Inc. acquired a new stake in America Movil during the first quarter worth about $40,000. Farther Finance Advisors LLC increased its position in America Movil by 21.9% during the first quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider's stock worth $55,000 after purchasing an additional 685 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in America Movil during the fourth quarter worth about $74,000. 6.30% of the stock is currently owned by institutional investors and hedge funds.

America Movil Trading Up 0.5%

AMX stock traded up $0.10 during mid-day trading on Friday, hitting $19.07. 1,656,956 shares of the company were exchanged, compared to its average volume of 1,750,989. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $57.59 billion, a P/E ratio of 20.29 and a beta of 0.80. The business has a fifty day simple moving average of $17.62 and a 200-day simple moving average of $16.11. America Movil, S.A.B. de C.V. Unsponsored ADR has a 12-month low of $13.10 and a 12-month high of $19.30.

America Movil (NYSE:AMX - Get Free Report) last announced 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 return on equity of 12.59% and a net margin of 6.11%. The company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $233.77 billion. On average, equities research analysts predict 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 firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 21st. Stockholders of record on Friday, July 11th were paid a $0.2732 dividend. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from America Movil's previous semi-annual dividend of $0.24. This represents a dividend yield of 300.0%. America Movil's payout ratio is 54.26%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMX shares. HSBC upgraded shares of America Movil from a "hold" rating to a "buy" rating and raised their price objective for the stock from $15.50 to $17.50 in a research report on Monday, April 14th. Wall Street Zen upgraded shares of America Movil from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. UBS Group raised their price objective on shares of America Movil from $20.40 to $21.10 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Hsbc Global Res upgraded shares of America Movil from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. raised shares of America Movil from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $15.00 to $21.00 in a research note on Friday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, America Movil currently has an average rating of "Moderate Buy" and a consensus target price of $18.12.

America Movil 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.