OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 491.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,777 shares of the communications equipment provider's stock after acquiring an additional 64,616 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $627,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ERIC. Smartleaf Asset Management LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth 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. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $77,000. Valeo Financial Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $81,000. Endowment Wealth Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $91,000. Finally, Alliance Wealth Advisors LLC UT purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $94,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
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.
Check Out Our Latest Stock Analysis on Telefonaktiebolaget LM Ericsson (publ)
Telefonaktiebolaget LM Ericsson (publ) Price Performance
Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.02 during mid-day trading on Tuesday, hitting $8.24. 18,807,801 shares of the company were exchanged, compared to its average volume of 16,984,854. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90. The company has a market capitalization of $27.46 billion, a P/E ratio of -824,000.00, a PEG ratio of 3.89 and a beta of 0.81. The business's 50 day simple moving average is $8.08 and its two-hundred day simple moving average is $8.04. 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 posted 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 return on equity of 13.70% and a net margin of 0.06%. 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 Monday, March 24th. Stockholders of record on Thursday, March 27th were given a $0.1315 dividend. The ex-dividend date 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 payout ratio is currently -1,700,000.00%.
Telefonaktiebolaget LM Ericsson (publ) Company Profile
(
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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