Arrowstreet Capital Limited Partnership Trims Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Arrowstreet Capital Limited Partnership reduced its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,555,484 shares of the communications equipment provider's stock after selling 86,848 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.98% of Telefonaktiebolaget LM Ericsson (publ) worth $262,397,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Intrust Bank NA increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 15.8% in the 4th quarter. Intrust Bank NA now owns 47,200 shares of the communications equipment provider's stock worth $380,000 after acquiring an additional 6,457 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 11.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 54,450 shares of the communications equipment provider's stock worth $439,000 after purchasing an additional 5,518 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 55.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock valued at $14,475,000 after purchasing an additional 638,393 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $131,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth $127,000. Hedge funds and other institutional investors own 7.99% of the company's stock.

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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.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 3.1 %

Shares of NASDAQ ERIC traded down $0.24 during trading hours on Thursday, hitting $7.55. 19,567,245 shares of the company traded hands, compared to its average volume of 17,469,569. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of -755,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81. The company's 50 day moving average price is $7.99 and its 200 day moving average price is $8.06. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.90. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were given a $0.1315 dividend. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. The ex-dividend date was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio is -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.