KBC Group NV Makes New $233,000 Investment in Millicom International Cellular SA (NASDAQ:TIGO)

KBC Group NV acquired a new position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,681 shares of the technology company's stock, valued at approximately $233,000.

A number of other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its position in shares of Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock valued at $373,000 after acquiring an additional 3,141 shares during the period. Two Sigma Advisers LP bought a new position in shares of Millicom International Cellular during the 4th quarter valued at approximately $988,000. Vest Financial LLC bought a new position in shares of Millicom International Cellular during the 1st quarter valued at approximately $399,000. Brandes Investment Partners LP grew its position in shares of Millicom International Cellular by 1.5% during 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 acquiring an additional 68,061 shares during the period. Finally, Assetmark Inc. grew its position in shares of Millicom International Cellular by 4,044.9% during the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company's stock valued at $687,000 after acquiring an additional 26,818 shares during the period.

Millicom International Cellular Stock Performance

TIGO traded up $0.15 on Wednesday, hitting $37.19. The company's stock had a trading volume of 1,255,186 shares, compared to its average volume of 487,913. The company's 50 day simple moving average is $36.30 and its 200-day simple moving average is $30.83. The firm has a market cap of $6.40 billion, a P/E ratio of 17.88 and a beta of 1.06. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $38.92. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.91 by $0.23. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. Millicom International Cellular's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. Analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 8.07%. The ex-dividend date is Tuesday, July 8th. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Analysts Set New Price Targets

TIGO has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Scotiabank downgraded shares of 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 report on Tuesday, June 17th. UBS Group increased their target price on shares of 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, Barclays reduced their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.