Raymond James & Associates lowered its position in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX – Get Rating) by 29.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 169,888 shares of the Wireless communications provider’s stock after selling 72,458 shares during the quarter. Raymond James & Associates’ holdings in América Móvil were worth $2,798,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of América Móvil by 437.3% during the 1st quarter. Invesco Ltd. now owns 17,657,861 shares of the Wireless communications provider’s stock worth $373,465,000 after buying an additional 14,371,448 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of América Móvil by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,649,103 shares of the Wireless communications provider’s stock worth $217,561,000 after buying an additional 72,379 shares in the last quarter. Bank of America Corp DE lifted its position in shares of América Móvil by 89.2% during the 1st quarter. Bank of America Corp DE now owns 6,658,966 shares of the Wireless communications provider’s stock worth $140,838,000 after buying an additional 3,139,187 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of América Móvil by 19.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,268,975 shares of the Wireless communications provider’s stock worth $66,785,000 after buying an additional 529,500 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of América Móvil by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,835,997 shares of the Wireless communications provider’s stock worth $57,940,000 after purchasing an additional 15,300 shares during the last quarter. Institutional investors own 5.55% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on AMX shares. Barclays decreased their price target on shares of América Móvil from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, October 17th. StockNews.com lowered shares of América Móvil from a “strong-buy” rating to a “buy” rating in a research note on Thursday. UBS Group lowered shares of América Móvil from a “buy” rating to a “neutral” rating and raised their price target for the stock from $20.40 to $22.50 in a research note on Monday, November 28th. Finally, The Goldman Sachs Group decreased their price target on shares of América Móvil from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.10.
América Móvil Stock Up 1.2 %
América Móvil (NYSE:AMX – Get Rating) last released its quarterly earnings data on Tuesday, October 18th. The Wireless communications provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. América Móvil had a net margin of 22.50% and a return on equity of 18.15%. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.71 billion. On average, analysts predict that América Móvil, S.A.B. de C.V. will post 1.27 earnings per share for the current year.
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 local, domestic, and international long-distance services; and network interconnection services. It also 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.
- Get a free copy of the StockNews.com research report on América Móvil (AMX)
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