Truist Financial Corp Has $379,000 Stake in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Truist Financial Corp decreased its holdings in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX) by 40.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,295 shares of the Wireless communications provider’s stock after selling 15,136 shares during the quarter. Truist Financial Corp’s holdings in América Móvil were worth $379,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Capital International Investors raised its stake in América Móvil by 4.4% during the first quarter. Capital International Investors now owns 65,339,145 shares of the Wireless communications provider’s stock worth $1,219,228,000 after acquiring an additional 2,741,127 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of América Móvil by 9.9% in the first quarter. Lazard Asset Management LLC now owns 12,528,301 shares of the Wireless communications provider’s stock valued at $233,777,000 after buying an additional 1,128,671 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of América Móvil by 3.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,528,360 shares of the Wireless communications provider’s stock valued at $159,139,000 after buying an additional 245,113 shares during the period. Capital International Inc. CA increased its stake in shares of América Móvil by 9.5% in the first quarter. Capital International Inc. CA now owns 2,986,890 shares of the Wireless communications provider’s stock valued at $55,735,000 after buying an additional 258,203 shares during the period. Finally, Capital Group Private Client Services Inc. increased its stake in shares of América Móvil by 3.1% in the first quarter. Capital Group Private Client Services Inc. now owns 2,606,773 shares of the Wireless communications provider’s stock valued at $48,642,000 after buying an additional 79,550 shares during the period. Institutional investors and hedge funds own 6.30% of the company’s stock.

Analysts Set New Price Targets

AMX has been the subject of several recent research reports. UBS Group lowered their price objective on América Móvil from $23.30 to $22.60 and set a “buy” rating for the company in a research note on Thursday, July 18th. StockNews.com initiated coverage on América Móvil in a research note on Thursday, October 10th. They issued a “strong-buy” rating for the company. The Goldman Sachs Group lowered their price objective on América Móvil from $21.00 to $20.80 and set a “buy” rating for the company in a research note on Monday. Finally, Scotiabank lowered their price objective on América Móvil from $17.80 to $17.30 and set a “sector perform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.32.

América Móvil Stock Performance

Shares of AMX stock opened at $16.98 on Friday. The business’s 50 day simple moving average is $16.57 and its 200 day simple moving average is $17.55. América Móvil, S.A.B. de C.V. has a one year low of $15.55 and a one year high of $20.31. The stock has a market capitalization of $52.72 billion, a PE ratio of 15.72, a PEG ratio of 0.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.68 and a quick ratio of 0.63.

América Móvil (NYSE:AMX) last announced its earnings results on Tuesday, July 16th. The Wireless communications provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.36). América Móvil had a net margin of 3.98% and a return on equity of 7.73%. The company had revenue of $11.93 billion during the quarter, compared to the consensus estimate of $12.37 billion. As a group, research analysts forecast that América Móvil, S.A.B. de C.V. will post 1.39 earnings per share for the current year.

América Móvil Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.245 dividend. The ex-dividend date is Friday, November 8th. This is a boost from América Móvil’s previous semi-annual dividend of $0.18. This represents a yield of 2%. América Móvil’s dividend payout ratio is presently 24.07%.

About América Móvil

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.