Millicom International Cellular SA $TIGO Shares Acquired by Cullen Capital Management LLC

Cullen Capital Management LLC boosted its stake in Millicom International Cellular SA (NASDAQ:TIGO) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 656,608 shares of the technology company’s stock after purchasing an additional 13,577 shares during the quarter. Cullen Capital Management LLC owned about 0.38% of Millicom International Cellular worth $36,402,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Millicom International Cellular by 348.9% during the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after purchasing an additional 5,020,602 shares during the period. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the first quarter worth approximately $50,664,000. Northwestern Mutual Wealth Management Co. raised its stake in Millicom International Cellular by 46,519.0% during 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 purchasing an additional 1,260,666 shares during the period. Tredje AP fonden purchased a new position in Millicom International Cellular during the fourth quarter worth approximately $60,459,000. Finally, State Street Corp raised its stake in Millicom International Cellular by 129.2% during the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after purchasing an additional 1,026,063 shares during the period.

Millicom International Cellular Price Performance

TIGO opened at $93.77 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 52-week low of $35.62 and a 52-week high of $94.23. The company has a 50 day moving average of $83.43 and a two-hundred day moving average of $69.33. The company has a market cap of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last released 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 net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts expect that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 40.76%.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TIGO shares. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Tuesday, May 26th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank increased their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and a consensus price target of $77.28.

About Millicom International Cellular

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.