UBS Group AG Trims Stock Position in Millicom International Cellular SA $TIGO

UBS Group AG trimmed its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 32.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,286 shares of the technology company’s stock after selling 172,328 shares during the quarter. UBS Group AG’s holdings in Millicom International Cellular were worth $19,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of 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. Barclays PLC increased its stake in Millicom International Cellular by 1.7% in the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock valued at $140,534,000 after buying an additional 47,194 shares during the period. State Street Corp increased its stake in Millicom International Cellular by 129.2% in the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after buying an additional 1,026,063 shares during the period. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the 1st quarter worth $50,664,000. Finally, Northern Trust Corp raised its position in Millicom International Cellular by 128.2% during the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock worth $61,699,000 after buying an additional 714,158 shares during the last quarter.

Wall Street Analysts Forecast Growth

TIGO has been the topic of several analyst reports. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Scotiabank increased their price target 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. Wall Street Zen downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Five 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $78.50 on Tuesday. The firm has a market capitalization of $13.27 billion, a P/E ratio of 10.00 and a beta of 0.93. Millicom International Cellular SA has a one year low of $33.74 and a one year high of $85.26. The company’s fifty day moving average is $77.72 and its two-hundred day moving average is $63.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Millicom International Cellular SA will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

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 issued a $0.75 dividend. 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 3.8%. Millicom International Cellular’s dividend payout ratio (DPR) is 38.22%.

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.