Brandes Investment Partners LP Buys 68,061 Shares of Millicom International Cellular S.A. (NASDAQ:TIGO)

Brandes Investment Partners LP increased its stake in shares of Millicom International Cellular S.A. (NASDAQ:TIGO) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,574,255 shares of the technology company’s stock after purchasing an additional 68,061 shares during the quarter. Millicom International Cellular makes up 1.3% of Brandes Investment Partners LP’s holdings, making the stock its 27th biggest position. Brandes Investment Partners LP’s holdings in Millicom International Cellular were worth $114,402,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TIGO. National Bank of Canada FI bought a new position in Millicom International Cellular in the 3rd quarter valued at $76,000. Point72 Asset Management L.P. bought a new position in Millicom International Cellular in the 3rd quarter valued at $87,000. Blue Trust Inc. grew its position in Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Millicom International Cellular in the 3rd quarter valued at $168,000. Finally, Principal Securities Inc. grew its position in Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,277 shares during the last quarter.

Millicom International Cellular Trading Up 2.9 %

Shares of NASDAQ TIGO opened at $30.38 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock has a market capitalization of $5.23 billion, a P/E ratio of 32.32 and a beta of 1.23. Millicom International Cellular S.A. has a 1-year low of $18.96 and a 1-year high of $30.59. The business has a fifty day moving average price of $26.98 and a 200 day moving average price of $26.56.

Millicom International Cellular Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. This represents a dividend yield of 3.9%. The ex-dividend date is Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is currently 202.70%.

Analyst Upgrades and Downgrades

TIGO has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Scotiabank upped their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Morgan Stanley initiated coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. Finally, HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.98.

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.