America Movil (NYSE:AMX) Sets New 1-Year High Following Dividend Announcement

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) shares reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $21.68 and last traded at $21.34, with a volume of 1363664 shares trading hands. The stock had previously closed at $21.17.

The newly announced dividend which will be paid on Monday, November 17th. Stockholders of record on Friday, November 7th will be paid a dividend of $0.2811 per share. The ex-dividend date of this dividend is Friday, November 7th. America Movil’s payout ratio is currently 54.26%.

Analysts Set New Price Targets

A number of analysts have recently commented on AMX shares. UBS Group boosted their target price on shares of America Movil from $20.40 to $21.10 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Citigroup cut shares of America Movil from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, September 10th. Wall Street Zen raised shares of America Movil from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. The Goldman Sachs Group boosted their target price on shares of America Movil from $21.40 to $23.20 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of America Movil in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, America Movil currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

America Movil Stock Up 2.9%

The stock has a market capitalization of $65.00 billion, a price-to-earnings ratio of 22.90 and a beta of 0.88. The business’s 50-day moving average is $20.15 and its two-hundred day moving average is $18.01. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.02.

America Movil (NYSE:AMX) last posted its quarterly earnings results on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.11). The business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $233.77 billion. America Movil had a return on equity of 12.59% and a net margin of 6.11%. Equities analysts anticipate that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 EPS for the current year.

Hedge Funds Weigh In On America Movil

Several institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in America Movil by 2.8% in the 2nd quarter. Whittier Trust Co. now owns 21,198 shares of the Wireless communications provider’s stock valued at $380,000 after purchasing an additional 582 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in America Movil by 0.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 148,779 shares of the Wireless communications provider’s stock valued at $2,116,000 after purchasing an additional 585 shares during the last quarter. Profund Advisors LLC boosted its holdings in America Movil by 1.7% in the 2nd quarter. Profund Advisors LLC now owns 39,561 shares of the Wireless communications provider’s stock valued at $710,000 after purchasing an additional 666 shares during the last quarter. MAI Capital Management boosted its holdings in America Movil by 2.4% in the 2nd quarter. MAI Capital Management now owns 29,097 shares of the Wireless communications provider’s stock valued at $522,000 after purchasing an additional 680 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in America Movil by 21.9% in the 1st quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 685 shares during the last quarter. 6.30% of the stock is currently owned by institutional investors and hedge funds.

About America Movil

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.