StockNews.com lowered shares of América Móvil (NYSE:AMX – Free Report) from a strong-buy rating to a buy rating in a research note published on Friday morning.
Several other research firms have also weighed in on AMX. Scotiabank lowered their price objective on shares of 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. The Goldman Sachs Group lowered their price objective on shares of América Móvil from $21.00 to $20.80 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, UBS Group lowered their price objective on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating for the company in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, América Móvil currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.08.
Check Out Our Latest Research Report on AMX
América Móvil Trading Down 1.6 %
América Móvil Increases Dividend
The company also recently disclosed 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 a boost from América Móvil’s previous semi-annual dividend of $0.18. This represents a yield of 2%. The ex-dividend date of this dividend is Friday, November 8th. América Móvil’s payout ratio is currently 22.22%.
Institutional Investors Weigh In On América Móvil
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. increased its position in shares of América Móvil by 655.3% during the first quarter. NBC Securities Inc. now owns 13,717 shares of the Wireless communications provider’s stock valued at $255,000 after buying an additional 11,901 shares during the period. Gateway Investment Advisers LLC bought a new stake in shares of América Móvil during the first quarter valued at about $204,000. Sound Income Strategies LLC increased its position in shares of 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 valued at $65,000 after buying an additional 1,051 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of América Móvil during the first quarter valued at about $206,000. Finally, Private Ocean LLC bought a new stake in shares of América Móvil during the first quarter valued at about $26,000. 6.30% of the stock is currently owned by institutional investors.
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.
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