Russell Investments Group Ltd. Purchases 50,519 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Key Points

• Russell Investments Group Ltd. has increased its stake in America Movil by 6.2%, owning 859,540 shares worth approximately $12.22 million as per their latest SEC filing.
• Wall Street analysts have issued a consensus rating of "Moderate Buy" for America Movil, with target prices ranging from $18.12 to $21.10.
• The company recently increased its semi-annual dividend to $0.2732 per share, reflecting a significant boost from the previous amount, with a current dividend yield of 300.0%.

Russell Investments Group Ltd. boosted its position in shares of America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 859,540 shares of the Wireless communications provider's stock after acquiring an additional 50,519 shares during the period. Russell Investments Group Ltd.'s holdings in America Movil were worth $12,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMX. Bank of America Corp DE lifted its position in America Movil by 278.8% during the 4th quarter. Bank of America Corp DE now owns 10,216,018 shares of the Wireless communications provider's stock worth $146,191,000 after acquiring an additional 7,519,147 shares during the last quarter. Lazard Asset Management LLC lifted its position in America Movil by 12.6% during the 4th quarter. Lazard Asset Management LLC now owns 14,089,624 shares of the Wireless communications provider's stock worth $201,621,000 after acquiring an additional 1,571,290 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in America Movil during the 4th quarter worth $16,791,000. Wellington Management Group LLP acquired a new position in America Movil during the 4th quarter worth $15,149,000. Finally, Teacher Retirement System of Texas lifted its position in America Movil by 93.0% during the 1st quarter. Teacher Retirement System of Texas now owns 1,585,100 shares of the Wireless communications provider's stock worth $22,540,000 after acquiring an additional 764,000 shares during the last quarter. Institutional investors and hedge funds own 6.30% of the company's stock.

America Movil Price Performance

NYSE:AMX traded up $0.5350 during mid-day trading on Friday, hitting $19.9550. The company's stock had a trading volume of 1,046,284 shares, compared to its average volume of 2,184,373. 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 $19.91. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $60.26 billion, a price-to-earnings ratio of 21.22 and a beta of 0.80. The stock has a fifty day moving average of $18.00 and a 200-day moving average of $16.41.

America Movil (NYSE:AMX - Get Free Report) last posted its quarterly earnings results 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). America Movil had a return on equity of 12.59% and a net margin of 6.11%.The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $233.77 billion. As a group, equities analysts forecast that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 EPS for the current fiscal year.

America Movil Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, July 21st. Investors of record on Friday, July 11th were given a $0.2732 dividend. This represents a yield of 300.0%. This is a boost from America Movil's previous semi-annual dividend of $0.24. The ex-dividend date of this dividend was Friday, July 11th. America Movil's dividend payout ratio (DPR) is currently 54.26%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of America Movil from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $15.00 to $21.00 in a research report on Friday, August 8th. Wall Street Zen raised shares of America Movil from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, UBS Group upped their price objective on shares of 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.12.

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.