Element Squared LLC Invests $2.38 Million in America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Element Squared LLC acquired a new position in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,198 shares of the Wireless communications provider’s stock, valued at approximately $2,375,000. America Movil comprises about 1.3% of Element Squared LLC’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Klein Pavlis & Peasley Financial Inc. boosted its position in America Movil by 11.1% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 59,618 shares of the Wireless communications provider’s stock worth $1,519,000 after purchasing an additional 5,958 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of America Movil in the first quarter valued at approximately $245,000. Ritholtz Wealth Management raised its position in shares of America Movil by 93.4% in the first quarter. Ritholtz Wealth Management now owns 19,707 shares of the Wireless communications provider’s stock valued at $502,000 after purchasing an additional 9,517 shares during the period. TrueMark Investments LLC lifted its stake in shares of America Movil by 14.0% during the 1st quarter. TrueMark Investments LLC now owns 146,664 shares of the Wireless communications provider’s stock valued at $3,737,000 after buying an additional 18,040 shares in the last quarter. Finally, Faithward Advisors LLC purchased a new stake in shares of America Movil during the 1st quarter valued at approximately $1,898,000. 6.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMX. UBS Group lifted their price objective on shares of America Movil to $31.50 and gave the company a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group began coverage on America Movil in a research report on Monday, May 18th. They set a “buy” rating and a $31.80 target price on the stock. New Street Research reaffirmed a “buy” rating and issued a $35.00 price target on shares of America Movil in a report on Wednesday, June 17th. Scotiabank reduced their price target on America Movil from $21.80 to $20.80 and set a “sector perform” rating for the company in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on America Movil from $24.50 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, America Movil currently has a consensus rating of “Hold” and an average target price of $28.16.

America Movil Stock Performance

NYSE AMX opened at $25.94 on Wednesday. The company’s 50 day simple moving average is $26.30 and its two-hundred day simple moving average is $24.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.72 and a quick ratio of 0.67. America Movil, S.A.B. de C.V. Unsponsored ADR has a 1 year low of $16.92 and a 1 year high of $28.46. The stock has a market capitalization of $78.09 billion, a PE ratio of 16.52, a P/E/G ratio of 0.85 and a beta of 0.66.

America Movil (NYSE:AMX) last released its quarterly earnings results on Tuesday, March 31st. The Wireless communications provider reported $0.02 EPS for the quarter. The firm had revenue of $13.24 billion during the quarter. America Movil had a net margin of 9.23% and a return on equity of 19.77%. Analysts predict that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.91 earnings per share for the current fiscal year.

America Movil Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, July 22nd. Investors of record on Tuesday, July 14th will be paid a dividend of $0.3078 per share. The ex-dividend date of this dividend is Tuesday, July 14th. America Movil’s dividend payout ratio (DPR) is currently 35.67%.

America Movil 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.