32,393 Shares in Millicom International Cellular SA $TIGO Purchased by Wealthstar Advisors LLC

Key Points

• Wealthstar Advisors bought a new position in Millicom (NASDAQ:TIGO) of 32,393 shares valued at about $1.80 million in Q4, making the stock 0.8% of its holdings and its 23rd largest holding, while several other institutions (Mitsubishi UFJ, Kestra, Pictet, Sanctuary, Zurcher) also added or initiated stakes.
• Analysts rate Millicom as a consensus Moderate Buy (five Buys, one Hold, one Sell) with an average price target of $65.64 and notable upgrades from UBS and HSBC lifting targets to $70 and $89 respectively.
• Millicom beat expectations last quarter with EPS of $1.50 versus a $1.05 estimate and revenue up 15.7% year-over-year, and it announced a quarterly dividend of $0.75 ($3.00 annualized, ~3.6% yield).

Wealthstar Advisors LLC bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,393 shares of the technology company's stock, valued at approximately $1,796,000. Millicom International Cellular makes up 0.8% of Wealthstar Advisors LLC's holdings, making the stock its 23rd biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Millicom International Cellular in the 4th quarter valued at approximately $503,000. Kestra Private Wealth Services LLC grew its stake in shares of Millicom International Cellular by 51.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 30,655 shares of the technology company's stock valued at $1,700,000 after purchasing an additional 10,413 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Millicom International Cellular by 4.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 21,014 shares of the technology company's stock valued at $1,165,000 after purchasing an additional 962 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Millicom International Cellular by 37.1% in the 4th quarter. Sanctuary Advisors LLC now owns 27,152 shares of the technology company's stock valued at $1,505,000 after purchasing an additional 7,345 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Millicom International Cellular by 17.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,876 shares of the technology company's stock valued at $2,599,000 after purchasing an additional 7,005 shares during the period.

Analysts Set New Price Targets

Several research firms have recently weighed in on TIGO. Weiss Ratings reiterated a "buy (b)" rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. UBS Group upgraded Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their price objective for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Morgan Stanley reiterated a "positive" rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank upped their price objective on Millicom International Cellular from $43.00 to $51.20 and gave the company a "sector underperform" rating in a research note on Monday, March 30th. Finally, HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price objective on the stock in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.64.

Millicom International Cellular Stock Down 1.5%

Shares of TIGO opened at $82.83 on Tuesday. The company has a market capitalization of $14.00 billion, a P/E ratio of 10.55 and a beta of 0.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. Millicom International Cellular SA has a one year low of $30.26 and a one year high of $85.05. The business's 50 day simple moving average is $75.25 and its 200-day simple moving average is $61.44.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.Millicom International Cellular's revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts predict that Millicom International Cellular SA will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular's payout ratio is presently 38.22%.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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