America Movil, S.A.B. de C.V. Unsponsored ADR $AMX Shares Purchased by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its stake in America Movil by 279.3%, acquiring over 1 million additional shares, bringing its total holdings to approximately $20.57 million.
• Several analysts have upgraded their ratings on America Movil, with JPMorgan raising its price target from $15.00 to $21.00, and the stock now holds an average rating of "Moderate Buy."
• America Movil recently declared a semi-annual dividend increase to $0.2732 per share, reflecting a substantial dividend yield of 300.0% for investors.

Millennium Management LLC lifted its holdings in shares of America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 279.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,447,032 shares of the Wireless communications provider's stock after acquiring an additional 1,065,538 shares during the period. Millennium Management LLC's holdings in America Movil were worth $20,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMX. Garde Capital Inc. acquired a new stake in shares of America Movil during the 1st quarter worth about $40,000. Farther Finance Advisors LLC grew 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 during the last quarter. Brooklyn Investment Group grew 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 during the last quarter. Caitong International Asset Management Co. Ltd grew 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 during the last quarter. Finally, Signaturefd LLC grew its stake in America Movil by 10.4% during the 1st quarter. Signaturefd LLC now owns 9,976 shares of the Wireless communications provider's stock worth $142,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMX. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Citigroup downgraded America Movil from a "buy" rating to a "neutral" rating and lifted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, September 10th. UBS Group lifted their target price on America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. upgraded America Movil from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $15.00 to $21.00 in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.77.

America Movil Price Performance

Shares of America Movil stock traded down $0.07 during trading on Thursday, reaching $20.43. The company's stock had a trading volume of 4,531,352 shares, compared to its average volume of 1,949,624. The business has a 50 day moving average price of $18.96 and a 200-day moving average price of $17.15. The company has a market capitalization of $61.69 billion, a P/E ratio of 21.73 and a beta of 0.86. America Movil, S.A.B. de C.V. Unsponsored ADR has a 12-month low of $13.10 and a 12-month high of $20.72. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.02.

America Movil (NYSE:AMX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.11). The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $233.77 billion. America Movil had a return on equity of 12.59% and a net margin of 6.11%. As a group, sell-side analysts anticipate that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 EPS for the current year.

About America Movil

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.