Essex Financial Services Inc. Makes New Investment in América Móvil, S.A.B. de C.V. (NYSE:AMX)

Essex Financial Services Inc. purchased a new stake in shares of América Móvil, S.A.B. de C.V. (NYSE:AMX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 52,494 shares of the Wireless communications provider’s stock, valued at approximately $751,000.

A number of other hedge funds have also recently modified their holdings of the company. Spire Wealth Management purchased a new position in América Móvil during the fourth quarter worth about $32,000. R Squared Ltd purchased a new stake in shares of América Móvil during the 4th quarter valued at approximately $49,000. Raleigh Capital Management Inc. acquired a new position in América Móvil in the fourth quarter valued at approximately $57,000. CENTRAL TRUST Co lifted its holdings in América Móvil by 3,500.0% in the third quarter. CENTRAL TRUST Co now owns 3,600 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Blue Trust Inc. grew its position in América Móvil by 195.9% in the third quarter. Blue Trust Inc. now owns 3,507 shares of the Wireless communications provider’s stock worth $60,000 after acquiring an additional 2,322 shares during the period. Hedge funds and other institutional investors own 6.30% of the company’s stock.

Analysts Set New Price Targets

AMX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on América Móvil from $17.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Scotiabank reduced their price objective on shares of América Móvil from $17.80 to $17.30 and set a “sector perform” rating on the stock in a report on Wednesday, October 16th. StockNews.com raised shares of América Móvil from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group reduced their price target on shares of América Móvil from $17.80 to $17.60 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.94.

América Móvil Stock Performance

Shares of América Móvil stock opened at $14.80 on Thursday. The stock has a market capitalization of $45.44 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.72 and a quick ratio of 0.67. The business has a 50-day moving average of $14.33 and a 200 day moving average of $15.55. América Móvil, S.A.B. de C.V. has a 12 month low of $13.63 and a 12 month high of $20.31.

América Móvil (NYSE:AMX) last posted its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.27). América Móvil had a net margin of 4.45% and a return on equity of 8.61%. As a group, sell-side analysts forecast that América Móvil, S.A.B. de C.V. will post 0.69 earnings per share for the current year.

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 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.