Millicom International Cellular SA $TIGO Position Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the technology company’s stock after selling 6,900 shares during the period. Handelsbanken Fonder AB’s holdings in Millicom International Cellular were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new position in shares of Millicom International Cellular in the fourth quarter worth about $307,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Millicom International Cellular by 46,519.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after buying an additional 1,260,666 shares during the period. Allworth Financial LP boosted its holdings in shares of Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the period. Bailard Inc. acquired a new position in shares of Millicom International Cellular in the fourth quarter worth about $205,000. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of Millicom International Cellular by 76.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 8,644 shares of the technology company’s stock worth $479,000 after buying an additional 3,738 shares during the period.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $85.84 on Tuesday. The company has a 50 day simple moving average of $79.91 and a 200-day simple moving average of $65.92. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 11.66 and a beta of 0.93. Millicom International Cellular SA has a 52-week low of $35.49 and a 52-week high of $86.93.

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

Millicom International Cellular Announces Dividend

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

Analyst Upgrades and Downgrades

TIGO has been the subject of several recent analyst reports. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. Finally, Scotiabank raised their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.04.

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.