673,447 Shares in Millicom International Cellular SA (NASDAQ:TIGO) Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG has acquired a new stake in Millicom International Cellular, purchasing 673,447 shares valued at approximately $20.4 million during the first quarter.
• Millicom International Cellular recently reported earnings per share of $0.51 for the quarter, which was below analysts' expectations of $0.54, and had revenues of $1.37 billion compared to the forecast of $1.40 billion.
• The company announced a quarterly dividend of $0.75, resulting in an annualized dividend of $3.00 and a yield of 6.8%, with a dividend payout ratio of 52.91%.

Deutsche Bank AG bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 673,447 shares of the technology company's stock, valued at approximately $20,385,000. Deutsche Bank AG owned approximately 0.39% of Millicom International Cellular at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC lifted its stake in Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after acquiring an additional 508 shares in the last quarter. Geode Capital Management LLC lifted its stake in Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after acquiring an additional 1,500 shares in the last quarter. State of Wyoming acquired a new stake in Millicom International Cellular in the 4th quarter valued at about $49,000. LB Partners LLC raised its position in Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after purchasing an additional 2,055 shares in the last quarter.

Millicom International Cellular Price Performance

TIGO stock opened at $44.01 on Thursday. The business has a 50 day moving average price of $38.78 and a 200 day moving average price of $33.48. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 7.76 and a beta of 1.04. Millicom International Cellular SA has a fifty-two week low of $23.61 and a fifty-two week high of $44.38. The company has a quick ratio of 0.74, a current ratio of 0.89 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. Equities research analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is 52.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TIGO shares. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a research report on Tuesday, June 17th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. UBS Group increased their price target on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.08.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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