Allspring Global Investments Holdings LLC Reduces Stock Holdings in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Allspring Global Investments Holdings LLC lessened its stake in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,851,110 shares of the Wireless communications provider’s stock after selling 2,354,205 shares during the period. Allspring Global Investments Holdings LLC’s holdings in América Móvil were worth $95,724,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Capital International Investors raised its stake in shares of América Móvil by 4.4% in the first quarter. Capital International Investors now owns 65,339,145 shares of the Wireless communications provider’s stock valued at $1,219,228,000 after acquiring an additional 2,741,127 shares during the period. Lazard Asset Management LLC lifted its stake in 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 worth $233,777,000 after purchasing an additional 1,128,671 shares during the last quarter. Capital International Inc. CA boosted its position in shares of América Móvil by 9.5% during 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. Capital Group Private Client Services Inc. grew its stake in shares of América Móvil by 3.1% during 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 last quarter. Finally, Discovery Capital Management LLC CT raised its holdings in shares of América Móvil by 270.1% in the second quarter. Discovery Capital Management LLC CT now owns 1,795,988 shares of the Wireless communications provider’s stock worth $30,532,000 after buying an additional 1,310,688 shares during the period. 6.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group dropped their price objective on América Móvil from $21.00 to $20.80 and set a “buy” rating for the company in a report on Monday, October 14th. Scotiabank lowered their target price on shares of América Móvil from $17.80 to $17.30 and set a “sector perform” rating for the company in a research note on Wednesday, October 16th. UBS Group cut their price target on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com lowered shares of América Móvil from a “strong-buy” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, América Móvil has an average rating of “Moderate Buy” and a consensus price target of $20.08.

América Móvil Trading Up 0.9 %

Shares of NYSE AMX opened at $17.13 on Monday. América Móvil, S.A.B. de C.V. has a twelve month low of $15.55 and a twelve month high of $20.31. The firm has a market cap of $53.19 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The business has a fifty day simple moving average of $16.57 and a two-hundred day simple moving average of $17.52. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 0.98.

América Móvil Increases Dividend

The company also recently disclosed 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. This is an increase from América Móvil’s previous semi-annual dividend of $0.18. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Friday, November 8th. América Móvil’s payout ratio is presently 22.22%.

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.