Investment Partners Asset Management Inc. Trims Stock Holdings in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Investment Partners Asset Management Inc. trimmed its holdings in América Móvil, S.A.B. de C.V. (NYSE:AMX) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,247 shares of the Wireless communications provider’s stock after selling 821 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in América Móvil were worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. purchased a new position in América Móvil during the 3rd quarter worth $364,000. Envestnet Asset Management Inc. increased its holdings in América Móvil by 32.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 624,622 shares of the Wireless communications provider’s stock worth $10,818,000 after purchasing an additional 151,304 shares during the period. Qube Research & Technologies Ltd increased its holdings in América Móvil by 123.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 753,697 shares of the Wireless communications provider’s stock worth $13,054,000 after purchasing an additional 416,080 shares during the period. Bank of Nova Scotia purchased a new position in América Móvil during the 3rd quarter worth $173,000. Finally, Lazard Asset Management LLC increased its holdings in shares of América Móvil by 9.1% in the 3rd quarter. Lazard Asset Management LLC now owns 11,441,133 shares of the Wireless communications provider’s stock valued at $198,159,000 after acquiring an additional 952,521 shares during the period. 6.30% of the stock is currently owned by hedge funds and other institutional investors.

América Móvil Stock Performance

América Móvil stock traded down $0.07 during trading hours on Thursday, hitting $16.81. 541,276 shares of the stock traded hands, compared to its average volume of 1,522,509. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.65 and a quick ratio of 0.61. The firm’s 50 day moving average price is $18.47 and its 200-day moving average price is $18.45. The stock has a market capitalization of $52.20 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.99 and a beta of 0.95. América Móvil, S.A.B. de C.V. has a 1 year low of $15.99 and a 1 year high of $22.26.

América Móvil (NYSE:AMX) last posted its quarterly earnings results on Tuesday, April 16th. The Wireless communications provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.17). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.96 billion. América Móvil had a net margin of 7.28% and a return on equity of 13.93%. As a group, equities analysts expect that América Móvil, S.A.B. de C.V. will post 1.45 EPS for the current fiscal year.

América Móvil Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 22nd. Stockholders of record on Friday, July 12th will be paid a $0.2608 dividend. This is an increase from América Móvil’s previous semi-annual dividend of $0.18. The ex-dividend date is Friday, July 12th. This represents a dividend yield of 2.1%. América Móvil’s dividend payout ratio is presently 24.07%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMX. The Goldman Sachs Group raised América Móvil from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on América Móvil from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Monday, April 1st. Finally, Scotiabank dropped their target price on América Móvil from $19.60 to $19.00 and set a “sector perform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, América Móvil presently has an average rating of “Moderate Buy” and an average target price of $21.69.

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 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.