Trexquant Investment LP Takes $8.75 Million Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Trexquant Investment LP bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,085,132 shares of the communications equipment provider's stock, valued at approximately $8,746,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $77,000. Valeo Financial Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $81,000. Diametric Capital LP acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $85,000. Finally, Endowment Wealth Management Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $91,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Friday, January 24th.

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Telefonaktiebolaget LM Ericsson (publ) Trading Up 6.8 %

Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.46 during midday trading on Wednesday, reaching $7.23. The stock had a trading volume of 34,010,381 shares, compared to its average volume of 17,809,621. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of -723,000.00, a PEG ratio of 3.89 and a beta of 0.92. The firm's fifty day simple moving average is $7.89 and its two-hundred day simple moving average is $8.04.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were paid a $0.1315 dividend. This is a boost from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. The ex-dividend date of this dividend was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)'s payout ratio is presently -1,700,000.00%.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.