Swedbank AB Trims Stock Holdings in Millicom International Cellular SA $TIGO

Swedbank AB decreased its position in Millicom International Cellular SA (NASDAQ:TIGO) by 15.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,014,033 shares of the technology company’s stock after selling 381,631 shares during the period. Swedbank AB’s holdings in Millicom International Cellular were worth $111,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EWA LLC raised its stake in Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after acquiring an additional 169 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares during the period. GAMMA Investing LLC grew its position in Millicom International Cellular by 140.8% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares during the period. KBC Group NV grew its position in Millicom International Cellular by 0.9% during the 4th quarter. KBC Group NV now owns 44,587 shares of the technology company’s stock worth $2,472,000 after purchasing an additional 378 shares during the period. Finally, Archford Capital Strategies LLC grew its position in Millicom International Cellular by 8.5% during the 4th quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company’s stock worth $281,000 after purchasing an additional 398 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TIGO shares. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Scotiabank increased their price target on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus price target of $73.04.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $85.84 on Friday. Millicom International Cellular SA has a 52 week low of $35.49 and a 52 week high of $86.93. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $14.51 billion, a PE ratio of 11.66 and a beta of 0.93. The stock’s 50-day moving average price is $79.61 and its 200-day moving average price is $65.50.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities analysts expect that Millicom International Cellular SA will post 3.27 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is 40.76%.

Millicom International Cellular 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.