673,447 Shares in Millicom International Cellular SA (NASDAQ:TIGO) Acquired by Deutsche Bank AG

Deutsche Bank AG purchased a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 673,447 shares of the technology company’s stock, valued at approximately $20,385,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company’s stock worth $339,000 after buying an additional 508 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after purchasing an additional 1,500 shares during the last quarter. State of Wyoming purchased a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $49,000. LB Partners LLC grew its stake in shares of Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company’s stock valued at $15,907,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on TIGO shares. Scotiabank downgraded Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 target price on the stock. in a research note on Tuesday, June 17th. UBS Group lifted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a research note on Friday, May 16th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average price target of $38.08.

Millicom International Cellular Stock Up 1.1%

Millicom International Cellular stock opened at $44.01 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.74. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $44.38. The company has a market cap of $7.57 billion, a PE ratio of 7.76 and a beta of 1.04. The stock’s 50 day moving average price is $38.78 and its 200 day moving average price is $33.48.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. On average, sell-side analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 annualized dividend and a yield of 6.8%. Millicom International Cellular’s payout ratio is currently 52.91%.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.