Charles Schwab Investment Management Inc. Increases Stock Holdings in Millicom International Cellular S.A. (NASDAQ:TIGO)

Charles Schwab Investment Management Inc. raised its stake in shares of Millicom International Cellular S.A. (NASDAQ:TIGO) by 47.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,667 shares of the technology company’s stock after purchasing an additional 51,620 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.09% of Millicom International Cellular worth $3,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $168,000. Point72 Asset Management L.P. bought a new stake in Millicom International Cellular during the 3rd quarter valued at approximately $87,000. Quantinno Capital Management LP bought a new stake in Millicom International Cellular during the 3rd quarter valued at approximately $261,000. State Street Corp purchased a new position in shares of Millicom International Cellular during the 3rd quarter worth approximately $231,000. Finally, National Bank of Canada FI bought a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $76,000.

Millicom International Cellular Trading Down 0.4 %

NASDAQ TIGO opened at $29.63 on Thursday. Millicom International Cellular S.A. has a 12 month low of $19.50 and a 12 month high of $31.63. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock’s fifty day moving average price is $27.85 and its 200-day moving average price is $26.79. The stock has a market cap of $5.10 billion, a P/E ratio of 31.52 and a beta of 1.23.

Millicom International Cellular Announces Dividend

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

Analyst Ratings Changes

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