Raymond James Financial Inc. Purchases New Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Raymond James Financial Inc. bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 106,713 shares of the communications equipment provider's stock, valued at approximately $860,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ERIC. Charles Schwab Investment Management Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,182 shares of the communications equipment provider's stock worth $1,661,000 after purchasing an additional 54,437 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 38.7% in the 3rd quarter. Cerity Partners LLC now owns 90,972 shares of the communications equipment provider's stock worth $690,000 after buying an additional 25,366 shares during the last quarter. FMR LLC lifted its holdings in shares of 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 last quarter. Glenmede Trust Co. NA grew its position in Telefonaktiebolaget LM Ericsson (publ) by 40.3% in the third quarter. Glenmede Trust Co. NA now owns 14,992 shares of the communications equipment provider's stock worth $114,000 after acquiring an additional 4,303 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Telefonaktiebolaget LM Ericsson (publ) by 33.8% during the third quarter. Captrust Financial Advisors now owns 24,867 shares of the communications equipment provider's stock valued at $188,000 after purchasing an additional 6,278 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company's stock.

Remove Ads

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 6.8 %

Shares of ERIC traded up $0.46 during mid-day trading on Wednesday, reaching $7.23. The company's stock had a trading volume of 34,010,381 shares, compared to its average volume of 17,809,622. 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 has a 52 week low of $4.77 and a 52 week high of $8.90. The company's fifty day moving average price is $7.89 and its two-hundred day moving average price is $8.04. The stock has a market cap of $24.10 billion, a PE ratio of -723,000.00, a P/E/G ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (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, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently declared 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 boost from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. The ex-dividend date of this dividend was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)'s payout ratio is -1,700,000.00%.

Telefonaktiebolaget LM Ericsson (publ) 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.