America Movil, S.A.B. de C.V. Unsponsored ADR $AMX Shares Sold by Itau Unibanco Holding S.A.

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in America Movil, cutting its holdings by 93.6% and owning 401,896 shares worth approximately $5.7 million after the sale.
• Equities research analysts have upgraded America Movil, with UBS Group raising the price target from $20.40 to $21.10 while maintaining a "neutral" rating.
• The company has declared a new semi-annual dividend of $0.2732 per share, an increase from the previous dividend of $0.24, translating to a 300% yield.

Itau Unibanco Holding S.A. reduced its position in shares of America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 93.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,896 shares of the Wireless communications provider's stock after selling 5,852,836 shares during the period. Itau Unibanco Holding S.A.'s holdings in America Movil were worth $5,703,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMX. Parvin Asset Management LLC purchased a new stake in America Movil during the 4th quarter worth approximately $39,000. Garde Capital Inc. purchased a new stake in America Movil during the 1st quarter worth approximately $40,000. Farther Finance Advisors LLC increased its stake in America Movil by 21.9% during the 1st quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider's stock worth $55,000 after buying an additional 685 shares in the last quarter. Brooklyn Investment Group increased its stake in America Movil by 463.5% during the 1st quarter. Brooklyn Investment Group now owns 7,743 shares of the Wireless communications provider's stock worth $110,000 after buying an additional 6,369 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in America Movil by 222.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 7,849 shares of the Wireless communications provider's stock worth $112,000 after buying an additional 5,413 shares in the last quarter. 6.30% of the stock is currently owned by hedge funds and other institutional investors.

America Movil Trading Down 0.3%

AMX traded down $0.06 during trading hours on Tuesday, reaching $19.94. The company's stock had a trading volume of 456,053 shares, compared to its average volume of 2,182,869. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.75 and a quick ratio of 0.70. The business's 50-day moving average is $18.39 and its 200-day moving average is $16.70. America Movil, S.A.B. de C.V. Unsponsored ADR has a fifty-two week low of $13.10 and a fifty-two week high of $20.31. The stock has a market cap of $60.20 billion, a PE ratio of 21.21 and a beta of 0.85.

America Movil (NYSE:AMX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The Wireless communications provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.11). America Movil had a return on equity of 12.59% and a net margin of 6.11%.The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $233.77 billion. As a group, 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 company also recently declared a semi-annual dividend, which was paid on Monday, July 21st. Shareholders of record on Friday, July 11th were paid a dividend of $0.2732 per share. This represents a yield of 300.0%. This is a positive change from America Movil's previous semi-annual dividend of $0.24. The ex-dividend date was Friday, July 11th. America Movil's payout ratio is currently 54.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded America Movil from an "underweight" rating to a "neutral" rating and upped their price target for the company from $15.00 to $21.00 in a research report on Friday, August 8th. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, UBS Group upped their price target on America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company 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.