National Bank of Canada FI Purchases Shares of 2,908,168 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

National Bank of Canada FI bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,908,168 shares of the communications equipment provider's stock, valued at approximately $23,440,000. National Bank of Canada FI owned about 0.09% of Telefonaktiebolaget LM Ericsson (publ) at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ERIC. Two Sigma Advisers LP boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider's stock worth $15,402,000 after buying an additional 2,020,200 shares during the period. Sei Investments Co. lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% during the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock worth $38,755,000 after acquiring an additional 1,705,246 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% in the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider's stock worth $7,806,000 after acquiring an additional 787,154 shares during the period. Drum Hill Capital LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $5,773,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% during the 4th 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 during the period. 7.99% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Telefonaktiebolaget LM Ericsson (publ) Price Performance

NASDAQ:ERIC traded up $0.46 during mid-day trading on Wednesday, hitting $7.23. 34,010,381 shares of the stock traded hands, compared to its average volume of 17,809,621. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company has a market cap of $24.10 billion, a PE ratio of -723,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. The business's 50-day moving average price is $7.89 and its 200 day moving average price is $8.04.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released 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 return on equity of 13.70% and a net margin of 0.06%. On average, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were paid 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 currently -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.