Primecap Management Co. CA lowered its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,270,799 shares of the communications equipment provider's stock after selling 1,511,200 shares during the quarter. Primecap Management Co. CA owned approximately 1.39% of Telefonaktiebolaget LM Ericsson (publ) worth $372,943,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. Smartleaf Asset Management LLC raised its position in shares of 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 acquiring an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $77,000. Valeo Financial Advisors LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $81,000. Endowment Wealth Management Inc. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $91,000. Finally, Assetmark Inc. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider's stock valued at $94,000 after acquiring an additional 11,708 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company's stock.
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.
Read Our Latest Report on ERIC
Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.0 %
Shares of ERIC stock traded down $0.08 on Friday, reaching $8.17. The company had a trading volume of 21,603,168 shares, compared to its average volume of 16,938,232. The company has a 50-day moving average of $8.08 and a 200-day moving average of $8.02. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.90. The stock has a market cap of $27.23 billion, a PE ratio of -817,000.00, a PEG ratio of 3.89 and a beta of 0.81. 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 issued its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate 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 analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.
Telefonaktiebolaget LM Ericsson (publ) Increases Dividend
The firm also recently announced a dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.1315 per share. The ex-dividend date is 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%.
About Telefonaktiebolaget LM Ericsson (publ)
(
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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