Truist Financial Corp Lowers Stock Holdings in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Truist Financial Corp lowered its stake in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX – Get Rating) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,273 shares of the Wireless communications provider’s stock after selling 5,676 shares during the quarter. Truist Financial Corp’s holdings in América Móvil were worth $449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in shares of América Móvil by 25.3% during the second quarter. Janney Montgomery Scott LLC now owns 35,989 shares of the Wireless communications provider’s stock worth $735,000 after buying an additional 7,269 shares during the last quarter. Renaissance Technologies LLC lifted its position in América Móvil by 19.3% in the second quarter. Renaissance Technologies LLC now owns 3,268,975 shares of the Wireless communications provider’s stock valued at $66,785,000 after purchasing an additional 529,500 shares during the period. JPMorgan Chase & Co. lifted its position in América Móvil by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 2,835,997 shares of the Wireless communications provider’s stock valued at $57,940,000 after purchasing an additional 15,300 shares during the period. Bank of New Hampshire lifted its position in América Móvil by 26.1% in the third quarter. Bank of New Hampshire now owns 56,821 shares of the Wireless communications provider’s stock valued at $936,000 after purchasing an additional 11,743 shares during the period. Finally, CCG Wealth Management LLC lifted its position in América Móvil by 34.5% in the third quarter. CCG Wealth Management LLC now owns 16,538 shares of the Wireless communications provider’s stock valued at $272,000 after purchasing an additional 4,242 shares during the period. Hedge funds and other institutional investors own 5.55% of the company’s stock.

América Móvil Trading Up 0.7 %

Shares of AMX opened at $21.04 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.69 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $19.29 and a 200-day simple moving average of $18.52. América Móvil, S.A.B. de C.V. has a 1-year low of $16.13 and a 1-year high of $22.65. The stock has a market cap of $66.91 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.79 and a beta of 0.86.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group downgraded shares of América Móvil from a “buy” rating to a “neutral” rating and raised their price objective for the company from $20.40 to $22.50 in a research report on Monday, November 28th. The Goldman Sachs Group reduced their price objective on shares of América Móvil from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. StockNews.com downgraded shares of América Móvil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 19th. Finally, Barclays reduced their price target on shares of América Móvil from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.10.

América Móvil Company Profile

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América Móvil, SAB. de C.V. provides telecommunications services in Latin America and internationally. The company offers wireless and fixed voice services, including local, domestic, and international long-distance services; and network interconnection services. It also 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.