Bank of America Corp DE Decreases Holdings in Millicom International Cellular S.A. (NASDAQ:TIGO)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Securities Inc. boosted its holdings in Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after buying an additional 1,277 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Millicom International Cellular by 6.4% during 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. Charles Schwab Investment Management Inc. raised its stake in Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock valued at $3,993,000 after purchasing an additional 51,620 shares during the last quarter. Assetmark Inc. lifted its holdings in Millicom International Cellular by 4,044.9% in the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company's stock valued at $687,000 after purchasing an additional 26,818 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock valued at $114,402,000 after purchasing an additional 68,061 shares in the last quarter.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $36.52 on Monday. The firm has a market cap of $6.28 billion, a PE ratio of 38.85 and a beta of 1.08. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. Millicom International Cellular S.A. has a 52 week low of $22.59 and a 52 week high of $38.50. The business's fifty day simple moving average is $33.32 and its 200-day simple moving average is $29.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its 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. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Millicom International Cellular's revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts forecast that Millicom International Cellular S.A. will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is presently 144.23%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TIGO. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank upped their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research report on Friday, February 28th. 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 report on Tuesday, May 27th. UBS Group boosted their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Barclays cut their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.23.

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.

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