Envestnet Asset Management Inc. Acquires 28,284 Shares of Millicom International Cellular SA (NASDAQ:TIGO)

Key Points

• Envestnet Asset Management Inc. increased its stake in Millicom International Cellular by 26.8%, acquiring a total of 133,732 shares valued at approximately $4,048,000.
• Millicom reported a quarterly earnings per share of $1.14, surpassing the consensus estimate of $0.91, although revenue declined 7.6% year-over-year.
• The company declared a quarterly dividend of $0.75 per share, with a high dividend payout ratio of 144.23%, indicating potential concerns regarding sustainability.

Envestnet Asset Management Inc. boosted its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 26.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,732 shares of the technology company's stock after purchasing an additional 28,284 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Millicom International Cellular worth $4,048,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Southeastern Asset Management Inc. TN acquired a new stake in Millicom International Cellular in the fourth quarter worth $60,306,000. LB Partners LLC grew its holdings in shares of Millicom International Cellular by 0.4% during the first quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after buying an additional 2,000 shares during the last quarter. Park West Asset Management LLC acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at about $6,165,000. Geode Capital Management LLC grew its holdings in shares of Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after buying an additional 1,500 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Millicom International Cellular by 37.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock valued at $2,720,000 after buying an additional 29,730 shares during the last quarter.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded down $0.03 during trading on Tuesday, hitting $39.44. The stock had a trading volume of 141,277 shares, compared to its average volume of 889,774. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $43.03. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. The stock's 50 day moving average is $37.69 and its two-hundred day moving average is $32.34. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 18.96 and a beta of 1.06.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 7.61%. The ex-dividend date was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is currently 144.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen cut shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank cut shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a report on Tuesday, June 17th. Finally, UBS Group raised their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Millicom International Cellular 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.