Fig Financial Advisory Services Inc. ADV Buys 13,612 Shares of Millicom International Cellular SA $TIGO

Key Points

• Fig Financial Advisory Services purchased 13,612 shares of Millicom International Cellular in the third quarter, valued at approximately $1.19 million. Several other institutional investors also increased their positions.
• Analyst sentiment is mixed, with three Buy, three Hold, and one Sell rating; the consensus rating is Hold with an average price target of $85.68.
• Millicom shares opened at $90.77, while the company announced a quarterly dividend of $0.75 per share, equivalent to a 3.3% annualized yield and a 75.76% payout ratio.

Fig Financial Advisory Services Inc. ADV purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,612 shares of the technology company's stock, valued at approximately $1,186,000.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Millicom International Cellular by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company's stock valued at $65,000 after acquiring an additional 139 shares in the last quarter. Triumph Capital Management lifted its stake in Millicom International Cellular by 3.0% in the 2nd quarter. Triumph Capital Management now owns 5,170 shares of the technology company's stock worth $469,000 after purchasing an additional 151 shares in the last quarter. Allworth Financial LP lifted its stake in Millicom International Cellular by 32.4% in the 2nd quarter. Allworth Financial LP now owns 650 shares of the technology company's stock worth $59,000 after purchasing an additional 159 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company's stock valued at $47,000 after purchasing an additional 170 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company's stock valued at $27,000 after purchasing an additional 269 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TIGO shares. Scotiabank upped their price target on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a "sector underperform" rating in a report on Friday, August 7th. UBS Group lifted their price target on Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of Millicom International Cellular from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $85.68.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $90.77 on Thursday. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 22.92 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07. Millicom International Cellular SA has a 1-year low of $44.88 and a 1-year high of $107.13. The stock's 50-day moving average is $93.57 and its 200 day moving average is $88.61.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Friday, January 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.3%. Millicom International Cellular's dividend payout ratio is 75.76%.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.

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