Allspring Global Investments Holdings LLC Sells 558,345 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Allspring Global Investments Holdings LLC lessened its holdings in shares of America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) by 16.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,742,347 shares of the Wireless communications provider’s stock after selling 558,345 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in America Movil were worth $56,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMX. Lazard Asset Management LLC increased its stake in shares of America Movil by 5.4% in the 2nd quarter. Lazard Asset Management LLC now owns 16,272,887 shares of the Wireless communications provider’s stock valued at $291,934,000 after acquiring an additional 832,787 shares during the last quarter. Boston Partners grew its holdings in America Movil by 6,421.7% during the second quarter. Boston Partners now owns 4,127,267 shares of the Wireless communications provider’s stock valued at $74,043,000 after purchasing an additional 4,063,982 shares during the period. Brandes Investment Partners LP grew its holdings in America Movil by 2.5% during the second quarter. Brandes Investment Partners LP now owns 3,047,720 shares of the Wireless communications provider’s stock valued at $54,676,000 after purchasing an additional 74,068 shares during the period. Amundi increased its stake in America Movil by 2.3% in the second quarter. Amundi now owns 2,023,033 shares of the Wireless communications provider’s stock valued at $36,576,000 after purchasing an additional 44,672 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in America Movil by 23.4% in the second quarter. Teacher Retirement System of Texas now owns 1,956,400 shares of the Wireless communications provider’s stock worth $35,098,000 after purchasing an additional 371,300 shares during the period. Institutional investors own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMX shares. Zacks Research cut America Movil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of America Movil in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on America Movil from $21.00 to $23.50 and gave the company a “neutral” rating in a research report on Monday, October 20th. Santander cut America Movil from an “outperform” rating to a “neutral” rating in a research note on Friday, December 12th. Finally, The Goldman Sachs Group set a $24.30 price target on America Movil and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.34.

America Movil Price Performance

AMX stock opened at $20.67 on Friday. The stock has a market cap of $62.32 billion, a price-to-earnings ratio of 16.81 and a beta of 0.78. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50 day simple moving average of $22.12 and a 200 day simple moving average of $20.28. America Movil, S.A.B. de C.V. Unsponsored ADR has a 1 year low of $13.10 and a 1 year high of $23.68.

America Movil (NYSE:AMX) last issued its quarterly earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. America Movil had a return on equity of 16.59% and a net margin of 7.87%.The company had revenue of $12.71 billion during the quarter, compared to analysts’ expectations of $235.15 billion. Research analysts anticipate that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 EPS for the current fiscal year.

America Movil Announces Dividend

The company also recently disclosed a special dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, November 7th were issued a dividend of $0.2811 per share. The ex-dividend date was Friday, November 7th. America Movil’s payout ratio is currently 45.53%.

America Movil Company Profile

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.