Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stock Holdings Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 351,769 shares of the communications equipment provider's stock after selling 79,773 shares during the period. Oppenheimer & Co. Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,835,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $81,000. Assetmark Inc. raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the 3rd quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider's stock valued at $94,000 after purchasing an additional 11,708 shares in the last quarter. Alliance Wealth Advisors LLC UT bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $94,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $100,000. Finally, Fulton Bank N.A. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $102,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.14 during mid-day trading on Thursday, reaching $8.50. The company's stock had a trading volume of 13,213,583 shares, compared to its average volume of 17,979,043. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of -849,500.00, a PEG ratio of 3.89 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The business has a 50 day moving average price of $8.05 and a 200-day moving average price of $7.95. 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 announced 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%. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, March 27th were given a dividend of $0.1315 per share. This is a boost 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 presently -1,700,000.00%.

About Telefonaktiebolaget LM Ericsson (publ)

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.