Truist Financial Corp Sells 15,136 Shares of América Móvil, S.A.B. de C.V. (NYSE:AMX)

Truist Financial Corp trimmed its stake in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX) by 40.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Ocean LLC bought a new position in América Móvil during the first quarter worth $26,000. Sound Income Strategies LLC boosted its position in América Móvil by 43.5% during the first quarter. Sound Income Strategies LLC now owns 3,466 shares of the Wireless communications provider’s stock worth $65,000 after purchasing an additional 1,051 shares during the period. Rothschild Investment LLC bought a new position in América Móvil during the second quarter worth $59,000. Headlands Technologies LLC boosted its position in shares of América Móvil by 448.5% in the first quarter. Headlands Technologies LLC now owns 4,328 shares of the Wireless communications provider’s stock valued at $81,000 after acquiring an additional 3,539 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of América Móvil by 32.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,177 shares of the Wireless communications provider’s stock valued at $153,000 after acquiring an additional 2,007 shares during the period. 6.30% of the stock is owned by institutional investors.

América Móvil Stock Up 1.3 %

AMX stock opened at $16.98 on Friday. The company has a market cap of $52.72 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The business has a 50-day simple moving average of $16.57 and a 200 day simple moving average of $17.55. América Móvil, S.A.B. de C.V. has a 52 week low of $15.55 and a 52 week high of $20.31. 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 (NYSE:AMX) last posted its quarterly earnings results on Tuesday, July 16th. The Wireless communications provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.36). The company had revenue of $11.93 billion during the quarter, compared to analyst estimates of $12.37 billion. América Móvil had a net margin of 3.98% and a return on equity of 7.73%. Sell-side analysts anticipate that América Móvil, S.A.B. de C.V. will post 1.39 EPS for the current fiscal year.

América Móvil Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMX. UBS Group reduced their target price on shares of 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 began coverage on shares of América Móvil in a research report on Thursday, October 10th. They issued a “strong-buy” rating for the company. 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. Finally, The Goldman Sachs Group reduced their target price 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.32.

América Móvil Company 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.