Bank of America Corp DE Sells 20,212 Shares of Millicom International Cellular S.A. (NASDAQ:TIGO)

Bank of America Corp DE cut its holdings in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,835 shares of the technology company's stock after selling 20,212 shares during the period. Bank of America Corp DE's holdings in Millicom International Cellular were worth $771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TIGO. Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% during the 4th 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 during the period. Principal Securities Inc. boosted its position in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after purchasing an additional 1,277 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock worth $227,000 after purchasing an additional 545 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Millicom International Cellular by 1,405.3% during the 4th quarter. Quantbot Technologies LP now owns 12,238 shares of the technology company's stock valued at $306,000 after purchasing an additional 11,425 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at $474,000.

Millicom International Cellular Price Performance

TIGO traded up $0.44 during trading hours on Thursday, hitting $37.09. The company's stock had a trading volume of 389,832 shares, compared to its average volume of 407,782. The business's 50-day moving average price is $33.73 and its 200-day moving average price is $29.23. Millicom International Cellular S.A. has a 12 month low of $22.59 and a 12 month high of $38.50. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 39.46 and a beta of 1.08. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm's revenue was down 7.6% on a year-over-year basis. Sell-side analysts expect that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were given a dividend of $0.75 per share. This represents a dividend yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular's dividend payout ratio is currently 144.23%.

Analyst Ratings Changes

Several brokerages have recently commented on TIGO. Barclays lowered their price objective on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. UBS Group boosted their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Scotiabank increased their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.23.

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.