VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Millicom International Cellular SA $TIGO

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Millicom International Cellular SA (NASDAQ:TIGO) during the third quarter, HoldingsChannel reports. The firm purchased 73,400 shares of the technology company’s stock, valued at approximately $6,396,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cullen Capital Management LLC bought a new stake in Millicom International Cellular during the 2nd quarter valued at about $71,258,000. Bank of New York Mellon Corp purchased a new stake in Millicom International Cellular in the 2nd quarter valued at about $45,791,000. Public Employees Retirement System of Ohio purchased a new stake in Millicom International Cellular in the 2nd quarter valued at about $33,503,000. Amundi grew its stake in Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after acquiring an additional 289,913 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Millicom International Cellular in the 1st quarter worth about $18,210,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TIGO. Royal Bank Of Canada set a $105.00 target price on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Scotiabank increased their price objective on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research note on Friday, August 7th. UBS Group raised their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.68.

Millicom International Cellular Stock Down 0.4%

Shares of Millicom International Cellular stock opened at $79.57 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 20.09 and a beta of 0.93. The firm’s 50-day moving average is $88.90 and its two-hundred day moving average is $82.71. Millicom International Cellular SA has a 1 year low of $44.88 and a 1 year high of $107.13.

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Friday, January 8th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular’s dividend payout ratio is presently 75.76%.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company operating under the Tigo brand in Latin America. The company provides mobile voice and data services, fixed broadband, pay television, cable connectivity and other communications services to consumers, businesses and government organizations.

Its consumer offerings include wireless plans, home internet, television and digital entertainment services. Through Tigo Money and related financial technology products, Millicom also provides mobile money, digital payments and other financial services in selected markets.