LPL Financial LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 115.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 603,682 shares of the communications equipment provider's stock after purchasing an additional 323,917 shares during the quarter. LPL Financial LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock valued at $38,755,000 after purchasing an additional 1,705,246 shares during the period. US Bancorp DE raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider's stock valued at $7,806,000 after acquiring an additional 787,154 shares in the last quarter. Drum Hill Capital LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at $5,773,000. FMR LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider's stock worth $18,287,000 after acquiring an additional 463,415 shares during the period. Finally, Denali Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $3,705,000. Institutional investors own 7.99% of the company's stock.
Telefonaktiebolaget LM Ericsson (publ) Price Performance
Shares of ERIC traded up $0.18 during midday trading on Friday, reaching $7.29. The stock had a trading volume of 28,934,723 shares, compared to its average volume of 17,925,519. The firm's 50 day moving average price is $7.87 and its 200-day moving average price is $8.03. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.90. The company has a market capitalization of $24.30 billion, a P/E ratio of -729,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 EPS 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, analysts forecast 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. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1315 per share. The ex-dividend date of this dividend was Thursday, March 27th. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio is currently -1,800,000.10%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ERIC. 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. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday.
Read Our Latest Research Report on ERIC
Telefonaktiebolaget LM Ericsson (publ) Company Profile
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Free Report)
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.
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