AIA Group Ltd Cuts Holdings in America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

AIA Group Ltd decreased its stake in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) by 62.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,772 shares of the Wireless communications provider’s stock after selling 198,449 shares during the period. AIA Group Ltd’s holdings in America Movil were worth $3,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in America Movil by 93.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 8,376,918 shares of the Wireless communications provider’s stock valued at $173,151,000 after acquiring an additional 4,053,838 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of America Movil by 8.8% in the 3rd quarter. Lazard Asset Management LLC now owns 17,703,513 shares of the Wireless communications provider’s stock worth $371,774,000 after purchasing an additional 1,430,626 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of America Movil during the 2nd quarter valued at about $11,252,000. Marshall Wace LLP bought a new position in shares of America Movil during the 4th quarter valued at about $9,749,000. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of America Movil by 23.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 2,450,123 shares of the Wireless communications provider’s stock valued at $50,758,000 after buying an additional 467,811 shares in the last quarter. Hedge funds and other institutional investors own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMX. The Goldman Sachs Group started coverage on America Movil in a research note on Monday, May 18th. They issued a “buy” rating and a $31.80 target price for the company. UBS Group boosted their price objective on shares of America Movil to $31.50 and gave the stock a “buy” rating in a report on Thursday, April 23rd. New Street Research reaffirmed a “buy” rating and issued a $35.00 price objective on shares of America Movil in a research note on Wednesday, June 17th. Weiss Ratings raised shares of America Movil from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of America Movil from $24.50 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.16.

America Movil Stock Up 0.1%

Shares of NYSE AMX opened at $26.29 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.97. America Movil, S.A.B. de C.V. Unsponsored ADR has a 52 week low of $16.92 and a 52 week high of $28.46. The firm’s fifty day moving average is $26.19 and its 200 day moving average is $24.58. The company has a market cap of $79.13 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.84 and a beta of 0.66.

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

America Movil Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Tuesday, July 14th will be given a dividend of $0.3078 per share. The ex-dividend date of this dividend is Tuesday, July 14th. America Movil’s dividend payout ratio is presently 37.58%.

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.