Millicom International Cellular SA (NASDAQ:TIGO) Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Millicom International Cellular by 34.9% in the first quarter, raising its total shares to 37,061, valued at $1,122,000.
• Millicom International Cellular recently posted earnings of $1.14 per share, exceeding expectations, although quarterly revenue decreased 7.6% year-over-year.
• The company has a currently high dividend payout ratio of 144.23% despite declaring a quarterly dividend of $0.75, indicating potential financial strain.

Assetmark Inc. increased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 34.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,061 shares of the technology company's stock after acquiring an additional 9,580 shares during the period. Assetmark Inc.'s holdings in Millicom International Cellular were worth $1,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Wyoming purchased a new stake in shares of Millicom International Cellular in the fourth quarter valued at $49,000. Wells Fargo & Company MN lifted its position in shares of Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after acquiring an additional 2,055 shares in the last quarter. EWA LLC purchased a new stake in shares of Millicom International Cellular in the first quarter valued at $201,000. Spinnaker Trust purchased a new stake in shares of Millicom International Cellular in the first quarter valued at $212,000. Finally, KBC Group NV purchased a new stake in shares of Millicom International Cellular in the first quarter valued at $233,000.

Millicom International Cellular Stock Up 1.4%

Shares of TIGO stock traded up $0.57 during trading hours on Monday, reaching $40.92. The company had a trading volume of 355,494 shares, compared to its average volume of 887,296. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $43.03. The company has a market capitalization of $7.04 billion, a P/E ratio of 19.68 and a beta of 1.04. The stock's fifty day simple moving average is $37.95 and its 200 day simple moving average is $32.74.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.23. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. Millicom International Cellular's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 7.3%. Millicom International Cellular's dividend payout ratio (DPR) is 144.23%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. UBS Group upped their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price for the company. in a research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

Millicom International Cellular Profile

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.