Allspring Global Investments Holdings LLC Sells 2,354,205 Shares of América Móvil, S.A.B. de C.V. (NYSE:AMX)

Allspring Global Investments Holdings LLC lessened its position in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX - Free Report) by 28.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 owned approximately 0.19% of América Móvil worth $95,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AMX. Capital International Investors grew 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 purchasing an additional 2,741,127 shares during the period. Lazard Asset Management LLC lifted its stake in América Móvil by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 12,528,301 shares of the Wireless communications provider's stock valued at $233,777,000 after acquiring an additional 1,128,671 shares in the last quarter. Capital International Inc. CA grew its stake in shares of América Móvil by 9.5% in the 1st quarter. Capital International Inc. CA now owns 2,986,890 shares of the Wireless communications provider's stock worth $55,735,000 after acquiring an additional 258,203 shares in the last quarter. Capital Group Private Client Services Inc. increased its stake in América Móvil by 3.1% in the 1st 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 lifted its holdings in América Móvil by 270.1% during 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 acquiring an additional 1,310,688 shares during the period. Institutional investors and hedge funds own 6.30% of the company's stock.

América Móvil Trading Down 1.6 %

AMX traded down $0.27 during trading on Monday, hitting $16.86. 961,731 shares of the stock traded hands, compared to its average volume of 1,560,466. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a 50-day moving average of $16.57 and a 200 day moving average of $17.51. The firm has a market capitalization of $52.35 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. América Móvil, S.A.B. de C.V. has a 12-month low of $15.55 and a 12-month high of $20.31.

América Móvil Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be paid a $0.245 dividend. This is an increase from América Móvil's previous semi-annual dividend of $0.18. This represents a yield of 2%. The ex-dividend date is Friday, November 8th. América Móvil's dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

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

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.