America Movil, S.A.B. de C.V. Unsponsored ADR $AMX Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its America Movil stake by 314.2% in the first quarter, acquiring 1.72 million additional shares to reach 2.27 million shares valued at approximately $57.9 million.
• Other institutional investors also raised their positions, while hedge funds and institutions collectively owned 6.30% of America Movil. Analyst sentiment remained cautious, with a consensus “Hold” rating and an average price target of $28.16.
• America Movil reported quarterly earnings of $0.46 per share on $13.78 billion in revenue and paid a special dividend of $0.3078 per share. The stock opened at $23.39, below its 52-week high of $28.46.

Bank of America Corp DE increased its stake in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 314.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272,406 shares of the Wireless communications provider's stock after acquiring an additional 1,723,717 shares during the period. Bank of America Corp DE owned approximately 0.08% of America Movil worth $57,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMX. Lazard Asset Management LLC increased its position in shares of America Movil by 17.8% during the 1st quarter. Lazard Asset Management LLC now owns 20,807,915 shares of the Wireless communications provider's stock valued at $530,186,000 after purchasing an additional 3,140,360 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of America Movil in the second quarter valued at $11,252,000. Marshall Wace LLP acquired a new stake in shares of America Movil in the fourth quarter valued at $9,749,000. Itau Unibanco Holding S.A. boosted its stake in America Movil by 23.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,450,123 shares of the Wireless communications provider's stock valued at $50,758,000 after buying an additional 467,811 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in America Movil by 55.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,150,649 shares of the Wireless communications provider's stock valued at $23,784,000 after buying an additional 408,125 shares in the last quarter. Institutional investors and hedge funds own 6.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of America Movil to $31.50 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. New Street Research restated a "buy" rating and set a $35.00 price objective on shares of America Movil in a research report on Wednesday, June 17th. Wall Street Zen cut shares of America Movil from a "strong-buy" rating to a "buy" rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of America Movil from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of America Movil from $24.50 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $28.16.

America Movil Stock Performance

America Movil stock opened at $23.39 on Wednesday. America Movil, S.A.B. de C.V. Unsponsored ADR has a fifty-two week low of $18.70 and a fifty-two week high of $28.46. The firm's 50 day simple moving average is $25.75 and its 200-day simple moving average is $25.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.66. The company has a market cap of $70.28 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.76 and a beta of 0.65.

America Movil (NYSE:AMX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The Wireless communications provider reported $0.46 EPS for the quarter. America Movil had a net margin of 9.38% and a return on equity of 20.33%. The business had revenue of $13.78 billion during the quarter. As a group, equities research analysts predict that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.92 EPS for the current year.

America Movil Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th were given a $0.3078 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. America Movil's dividend payout ratio (DPR) is 35.54%.

About America Movil

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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