Millicom International Cellular SA $TIGO Shares Sold by Swedbank AB

Key Points

• Swedbank AB cut its holdings by 15.9% in the fourth quarter, selling 381,631 shares and leaving it with 2,014,033 TIGO shares (about 1.17% of the company) valued at roughly $111.66 million.
• Millicom beat expectations for the quarter with $1.50 EPS vs. a $1.05 estimate and $1.65 billion in revenue (up 15.7% YoY), and announced a $0.75 quarterly dividend ($3.00 annual, ~3.5% yield).
• Analyst sentiment is mixed but constructive—the consensus is a "Moderate Buy" with a $65.64 target; five analysts rate Buy (including UBS, which raised its target to $70), one Hold and one Sell.

Swedbank AB cut its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,014,033 shares of the technology company's stock after selling 381,631 shares during the period. Swedbank AB owned approximately 1.17% of Millicom International Cellular worth $111,658,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TIGO. Smartleaf Asset Management LLC increased its holdings in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock valued at $25,000 after buying an additional 314 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock valued at $27,000 after acquiring an additional 427 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Millicom International Cellular during the 3rd quarter worth $32,000. Finally, GAMMA Investing LLC grew its holdings in shares of Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company's stock worth $32,000 after acquiring an additional 335 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank upped their target price on Millicom International Cellular from $43.00 to $51.20 and gave the company a "sector underperform" rating in a report on Monday, March 30th. Morgan Stanley reissued a "positive" rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Wall Street Zen downgraded Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. UBS Group raised shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their price objective for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.64.

Millicom International Cellular Trading Up 1.1%

Millicom International Cellular stock opened at $84.74 on Thursday. Millicom International Cellular SA has a one year low of $30.26 and a one year high of $85.26. The company's fifty day moving average price is $77.05 and its two-hundred day moving average price is $62.74. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 10.79 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. On average, analysts forecast that Millicom International Cellular SA will post 3.23 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.5%. Millicom International Cellular's dividend payout ratio is presently 38.22%.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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