Millicom International Cellular SA $TIGO Shares Newly Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 73,400 Millicom International Cellular shares in the third quarter, valued at approximately $6.4 million. Several other institutional investors also increased or initiated positions.
• Analyst sentiment remains generally positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $85.68, despite mixed individual rating changes.
• TIGO shares opened at $79.57, while Millicom declared a quarterly dividend of $0.75 per share, equivalent to an annualized $3.00 payout and a 3.8% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 73,400 shares of the technology company's stock, valued at approximately $6,396,000.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in Millicom International Cellular by 896.7% during the second 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. Mather Group LLC. bought a new stake in shares of Millicom International Cellular in the 3rd quarter valued at approximately $35,000. Altshuler Shaham Ltd lifted its stake in shares of 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 last quarter. Allworth Financial LP boosted its holdings in shares of 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 during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Millicom International Cellular by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company's stock worth $65,000 after purchasing an additional 139 shares during the period.

Analyst Ratings Changes

TIGO has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Millicom International Cellular from an "overweight" rating to a "neutral" rating and increased their price target for the company from $100.00 to $105.00 in a report on Tuesday, August 18th. UBS Group raised their price target on Millicom International Cellular from $90.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Finally, Weiss Ratings raised shares of Millicom International Cellular from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.68.

Millicom International Cellular Stock Down 0.4%

Shares of NASDAQ:TIGO opened at $79.57 on Friday. Millicom International Cellular SA has a 1 year low of $44.88 and a 1 year high of $107.13. The business has a 50 day simple moving average of $88.90 and a two-hundred day simple moving average of $82.71. The firm has a market capitalization of $13.45 billion, a PE ratio of 20.09 and a beta of 0.93. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51.

Millicom International Cellular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular's dividend payout ratio (DPR) is currently 75.76%.

Millicom International Cellular Company Profile

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

Its consumer offerings include wireless plans, home internet, television and digital entertainment services. Through Tigo Money and related financial technology products, Millicom also provides mobile money, digital payments and other financial services in selected markets.

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