Raymond James & Associates Cuts Stake in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Raymond James & Associates cut its stake in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX - Free Report) by 16.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 167,059 shares of the Wireless communications provider's stock after selling 33,473 shares during the period. Raymond James & Associates' holdings in América Móvil were worth $2,733,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AMX. Rothschild Investment LLC acquired a new stake in shares of América Móvil in the second quarter worth approximately $59,000. Blue Trust Inc. boosted its stake in América Móvil by 195.9% during the 3rd quarter. Blue Trust Inc. now owns 3,507 shares of the Wireless communications provider's stock worth $60,000 after purchasing an additional 2,322 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of América Móvil by 448.5% during the first quarter. Headlands Technologies LLC now owns 4,328 shares of the Wireless communications provider's stock worth $81,000 after buying an additional 3,539 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of América Móvil in the second quarter valued at about $192,000. Finally, Rockline Wealth Management LLC purchased a new position in shares of América Móvil in the second quarter worth about $213,000. 6.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group cut their price objective on shares of América Móvil from $21.00 to $20.80 and set a "buy" rating for the company in a report on Monday, October 14th. UBS Group dropped their price target on América Móvil from $23.30 to $22.60 and set a "buy" rating for the company in a research report on Thursday, July 18th. StockNews.com initiated coverage on América Móvil in a research note on Tuesday, October 29th. They set a "buy" rating on the stock. Finally, Scotiabank cut their target price on 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.08.

América Móvil Trading Down 1.3 %

AMX stock traded down $0.21 during midday trading on Tuesday, hitting $15.84. 1,026,835 shares of the company's stock were exchanged, compared to its average volume of 1,547,126. América Móvil, S.A.B. de C.V. has a 1-year low of $15.55 and a 1-year high of $20.31. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $48.87 billion, a PE ratio of 23.96, a P/E/G ratio of 0.95 and a beta of 0.95. The business has a 50-day simple moving average of $16.39 and a two-hundred day simple moving average of $17.37.

América Móvil Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a $0.245 dividend. The ex-dividend date is Friday, November 8th. This represents a yield of 2%. This is a boost from América Móvil's previous semi-annual dividend of $0.18. América Móvil's dividend payout ratio is presently 35.82%.

América Móvil Profile

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.