ABC Arbitrage SA Purchases 316,767 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Key Points

• ABC Arbitrage SA boosted its stake in America Movil by 316.3% in the first quarter, buying 316,767 shares and bringing its total holding to 416,914 shares worth about $10.6 million.
• Several other institutional investors also adjusted their positions in AMX, and overall institutional ownership stands at 6.30% of the stock.
• Analysts remain cautious overall: the stock has an average rating of “Hold” with an average price target of $28.16, while America Movil recently announced a special dividend of $0.3078 per share payable on July 22.

ABC Arbitrage SA increased its position in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 316.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,914 shares of the Wireless communications provider's stock after buying an additional 316,767 shares during the period. America Movil accounts for about 1.4% of ABC Arbitrage SA's investment portfolio, making the stock its 16th biggest position. ABC Arbitrage SA's holdings in America Movil were worth $10,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMX. Lazard Asset Management LLC raised its stake in America Movil by 8.8% during the third quarter. Lazard Asset Management LLC now owns 17,703,513 shares of the Wireless communications provider's stock valued at $371,774,000 after purchasing an additional 1,430,626 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of America Movil by 93.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 8,376,918 shares of the Wireless communications provider's stock worth $173,151,000 after buying an additional 4,053,838 shares in the last quarter. Boston Partners lifted its holdings in shares of America Movil by 7.3% in the 4th quarter. Boston Partners now owns 4,835,629 shares of the Wireless communications provider's stock valued at $99,952,000 after acquiring an additional 326,890 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of America Movil by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,215,162 shares of the Wireless communications provider's stock valued at $87,129,000 after acquiring an additional 71,182 shares during the last quarter. Finally, Morgan Stanley grew its position in America Movil by 9.8% in the fourth quarter. Morgan Stanley now owns 3,970,788 shares of the Wireless communications provider's stock worth $82,076,000 after acquiring an additional 353,632 shares in the last quarter. 6.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank decreased their price objective on America Movil from $21.80 to $20.80 and set a "sector perform" rating on the stock in a research report on Wednesday, May 27th. New Street Research reiterated a "buy" rating and issued a $35.00 target price on shares of America Movil in a report on Wednesday, June 17th. UBS Group boosted their target price on America Movil to $31.50 and gave the company a "buy" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on America Movil from $24.50 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of America Movil from a "buy" rating to a "strong-buy" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $28.16.

America Movil Trading Down 0.1%

Shares of NYSE AMX opened at $25.97 on Tuesday. America Movil, S.A.B. de C.V. Unsponsored ADR has a fifty-two week low of $16.92 and a fifty-two week high of $28.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.67 and a current ratio of 0.72. The company has a market cap of $78.18 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.83 and a beta of 0.66. The business's 50 day moving average price is $26.27 and its 200-day moving average price is $24.43.

America Movil (NYSE:AMX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter. America Movil had a return on equity of 19.77% and a net margin of 9.23%.The company had revenue of $13.24 billion during the quarter. On average, sell-side analysts expect that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.91 earnings per share for the current year.

America Movil Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th will be paid a dividend of $0.3078 per share. The ex-dividend date of this dividend is Tuesday, July 14th. America Movil's payout ratio is currently 35.67%.

America Movil Profile

América Móvil is a Mexican telecommunications company headquartered in Mexico City that provides a broad range of communications services. Established in the early 2000s out of the expansion of the Slim family's telecommunications holdings, the company is a major provider of mobile and fixed-line telephony, broadband internet and pay-television services in the region. Its operations span retail consumer services as well as wholesale and enterprise solutions, positioning it as an integrated communications provider across multiple customer segments.

The company markets services under several regional brands—most notably Telcel in Mexico and Claro across many Latin American markets—and offers both prepaid and postpaid mobile plans, fixed and mobile broadband, fiber-to-the-home where available, and video/broadcast distribution services.

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