Vestcor Inc Acquires 25,880 Shares of Millicom International Cellular SA $TIGO

Vestcor Inc raised its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 31.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,009 shares of the technology company’s stock after acquiring an additional 25,880 shares during the quarter. Vestcor Inc’s holdings in Millicom International Cellular were worth $5,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares in the last quarter. Spire Wealth Management bought a new position in shares of Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC boosted its position in shares of Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares in the last quarter.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Millicom International Cellular Trading Down 5.3%

Shares of NASDAQ:TIGO opened at $82.66 on Friday. Millicom International Cellular SA has a 12 month low of $35.62 and a 12 month high of $89.49. 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 company’s fifty day simple moving average is $81.98 and its 200 day simple moving average is $68.08. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, research analysts forecast that Millicom International Cellular SA will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is presently 40.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley reissued a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. UBS Group cut 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 report on Tuesday, May 26th. HSBC raised shares of 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. Finally, Scotiabank lifted 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 report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.28.

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.