Brandes Investment Partners LP Sells 998,802 Shares of Millicom International Cellular SA $TIGO

Brandes Investment Partners LP trimmed its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,836,505 shares of the technology company’s stock after selling 998,802 shares during the period. Millicom International Cellular accounts for 2.0% of Brandes Investment Partners LP’s portfolio, making the stock its 7th biggest position. Brandes Investment Partners LP’s holdings in Millicom International Cellular were worth $268,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the period. Blue Trust Inc. raised its holdings 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 during the period. Smartleaf Asset Management LLC raised its holdings 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 during the period. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC raised its holdings 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 during the period.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $87.36 on Wednesday. Millicom International Cellular SA has a twelve month low of $35.62 and a twelve month high of $89.49. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a 50-day moving average of $82.43 and a 200-day moving average of $68.62. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 11.87 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating 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 analyst estimates of $1.99 billion. Analysts forecast that Millicom International Cellular SA will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.4%. Millicom International Cellular’s dividend payout ratio (DPR) is 40.76%.

Wall Street Analyst Weigh In

TIGO has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective 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. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank increased their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a report on Tuesday, May 26th. Finally, Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and an average price target of $77.28.

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.