Capital Research & Management Co recently announced the acquisition of new stake in America Movil S.A.B. de C.V. (NYSE:AMX). The institutional investor has increased its shareholding in the Communication Services company by 15.60% to 45.78 million shares with purchase of 6.18 million shares. This fresh investment now brings its stake to 2.17% valued currently at $942.16 million. In addition, Schroder Investment Management Lt raised its holdings by 0.18 million to 5.28 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.91% or 0.24 million shares – to 5.19 million shares.
With over 2.99 million America Movil S.A.B. de C.V. (AMX) shares trading Tuesday and a closing price of $21.04 on the day, the dollar volume was approximately $62.86 million. The shares have shown a positive half year performance of 27.94% and its price on 03/14/23 gained nearly 1.59%. Currently, there are 3.17B common shares owned by the public and among those 3.13B shares have been available to trade.
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The top 3 mutual fund holders in America Movil S.A.B. de C.V. are American Funds New Perspective Fu, Invesco Developing Markets Fund, and American Funds New World Fund. American Funds New Perspective Fu owns 19.97 million shares of the company’s stock, all valued at over $411.04 million. The company bought an additional 1.34 million shares recently to bring their total holdings to about 0.95% of the shares outstanding. American Funds New World Fund now owns shares totaling to 0.41% of the shares outstanding.
Shares of America Movil S.A.B. de C.V. (NYSE: AMX) opened at $20.89, up $0.18 from a prior closing price of $20.71. However, the script later moved the day high at 21.24, up 1.59%. The company’s stock has a 5-day price change of 1.35% and 15.54% over the past three months. AMX shares are trading 15.60% year to date (YTD), with the 12-month market performance up to 18.89% higher. It has a 12-month low price of $15.34 and touched a high of $21.76 over the same period. AMX has an average intraday trading volume of 1.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.66%, 3.53%, and 13.23% respectively.
Institutional ownership of America Movil S.A.B. de C.V. (NYSE: AMX) shares accounts for 8.70% of the company’s 3.17B shares outstanding. Mutual fund holders own 4.07%, while other institutional holders and individual stakeholders account for 4.53% and — respectively.
It has a market capitalization of $66.40B and a beta (3y monthly) value of 0.89. The stock’s trailing 12-month PE ratio is 14.74, while the earnings-per-share (ttm) stands at $1.43. The company has a PEG of 1.22 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 1.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.23% over the week and 2.25% over the month.
Analysts forecast that America Movil S.A.B. de C.V. (AMX) will achieve an EPS of $0.45 for the current quarter, $0.38 for the next quarter and $1.55 for 2023. The lowest estimate earnings-per-share for the quarter is $0.4 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 136.00%, and 13.80% over the next financial year. EPS should shrink at an annualized rate of 12.07% over the next five years, compared to 51.60% over the past 5-year period.
Looking at the support for the AMX, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on February 23, 2023, with the firm’s price target at $19. UBS coverage for the America Movil S.A.B. de C.V. (AMX) stock in a research note released on November 28, 2022 offered a Neutral rating with a price target of $22.50. UBS was of a view on September 20, 2022 that the stock is Buy, while Citigroup gave the stock Buy rating on August 04, 2022, issuing a price target of $23. JP Morgan on their part issued Neutral rating on March 18, 2022.
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