Allspring Global Investments Holdings LLC Sells 1,527,342 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Allspring Global Investments Holdings LLC lowered its position in shares of America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) by 31.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,300,692 shares of the Wireless communications provider’s stock after selling 1,527,342 shares during the period. Allspring Global Investments Holdings LLC owned 0.11% of America Movil worth $59,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of America Movil by 41.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,376 shares of the Wireless communications provider’s stock worth $304,000 after purchasing an additional 6,263 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of America Movil by 38.4% during the first quarter. Sequoia Financial Advisors LLC now owns 14,978 shares of the Wireless communications provider’s stock worth $213,000 after purchasing an additional 4,154 shares during the period. Farther Finance Advisors LLC increased its stake in America Movil by 21.9% during the 1st quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider’s stock worth $55,000 after acquiring an additional 685 shares during the period. Northern Trust Corp increased its stake in America Movil by 23.6% during the 1st quarter. Northern Trust Corp now owns 1,290,960 shares of the Wireless communications provider’s stock worth $18,357,000 after acquiring an additional 246,357 shares during the period. Finally, GAMMA Investing LLC increased its stake in America Movil by 3,713.1% during the 1st quarter. GAMMA Investing LLC now owns 14,604 shares of the Wireless communications provider’s stock worth $208,000 after acquiring an additional 14,221 shares during the period. Institutional investors own 6.30% of the company’s stock.

America Movil Trading Down 2.2%

Shares of AMX opened at $20.88 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 0.75. America Movil, S.A.B. de C.V. Unsponsored ADR has a 52-week low of $13.10 and a 52-week high of $21.68. The firm has a market cap of $63.04 billion, a price-to-earnings ratio of 22.21 and a beta of 0.88. The business’s fifty day moving average is $20.08 and its 200-day moving average is $17.99.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMX. Citigroup downgraded shares of America Movil from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, September 10th. UBS Group increased their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of America Movil in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on America Movil from $21.40 to $23.20 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Wall Street Zen upgraded America Movil from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, America Movil currently has an average rating of “Moderate Buy” and an average price target of $19.75.

America Movil 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.