Point Nemo Capital LLC Buys 62,025 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Key Points

• Point Nemo Capital initiated a position in América Móvil, buying 62,025 shares worth approximately $1.314 million in the third quarter.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $29.43; JPMorgan raised its target to $32.
• América Móvil announced a special dividend of $0.2886 per share, payable November 18 to shareholders of record on November 10.

Point Nemo Capital LLC bought a new position in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 62,025 shares of the Wireless communications provider's stock, valued at approximately $1,314,000.

Several other large investors have also made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in 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 last quarter. Robeco Institutional Asset Management B.V. grew its stake in America Movil by 3.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 7,475,816 shares of the Wireless communications provider's stock worth $158,413,000 after buying an additional 251,941 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in America Movil by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,305,379 shares of the Wireless communications provider's stock worth $109,695,000 after buying an additional 90,217 shares during the last quarter. Amundi grew its stake in America Movil by 11.2% during the first quarter. Amundi now owns 2,381,539 shares of the Wireless communications provider's stock worth $60,682,000 after buying an additional 239,057 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of America Movil by 314.2% during the first quarter. Bank of America Corp DE now owns 2,272,406 shares of the Wireless communications provider's stock worth $57,901,000 after buying an additional 1,723,717 shares in the last quarter. Institutional investors own 6.30% of the company's stock.

Analysts Set New Price Targets

AMX has been the subject of a number of research analyst reports. Zacks Research upgraded shares of America Movil from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. raised America Movil from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $30.00 to $32.00 in a report on Tuesday, August 18th. Weiss Ratings restated a "hold (c)" rating on shares of America Movil in a research report on Thursday, August 13th. Santander raised America Movil from a "neutral" rating to an "outperform" rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded America Movil from a "buy" rating to a "hold" rating in a research report on Saturday, October 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $29.43.

America Movil Stock Up 2.4%

Shares of NYSE AMX opened at $25.71 on Friday. The firm's 50-day simple moving average is $22.97 and its 200 day simple moving average is $24.46. The company has a market cap of $77.27 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. America Movil, S.A.B. de C.V. Unsponsored ADR has a 12-month low of $19.70 and a 12-month high of $28.46.

America Movil Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Tuesday, November 10th will be paid a $0.2886 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. America Movil's payout ratio is currently 34.10%.

America Movil Company Profile

América Móvil is a telecommunications company headquartered in Mexico City. Established in 2000, it grew from the wireless operations of Telmex and has expanded across the Americas and Europe.

The company provides mobile and fixed-line voice services, broadband internet, pay television and data services to residential, business and government customers. It also offers enterprise connectivity and related technology services.

América Móvil operates under brands that include Telcel in Mexico, Claro in many Latin American markets and A1 in parts of Europe.

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