Renaissance Technologies LLC Buys 10,891,451 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Renaissance Technologies LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 401.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,607,012 shares of the communications equipment provider's stock after acquiring an additional 10,891,451 shares during the period. Renaissance Technologies LLC owned 0.41% of Telefonaktiebolaget LM Ericsson (publ) worth $109,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ERIC. Checchi Capital Advisers LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider's stock valued at $121,000 after purchasing an additional 1,464 shares during the period. First Affirmative Financial Network boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% during the fourth quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider's stock worth $324,000 after acquiring an additional 1,798 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% in the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider's stock valued at $228,000 after purchasing an additional 2,172 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 75,812 shares of the communications equipment provider's stock worth $611,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after buying an additional 2,840 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company's stock.

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Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC traded up $0.23 on Monday, hitting $7.52. 20,319,292 shares of the stock were exchanged, compared to its average volume of 21,147,186. The firm has a market capitalization of $25.06 billion, a price-to-earnings ratio of -752,000.00, a PEG ratio of 3.89 and a beta of 0.92. 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 has a 12 month low of $4.77 and a 12 month high of $8.90. The business has a 50-day moving average of $7.87 and a two-hundred day moving average of $8.03.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results 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 return on equity of 13.70% and a net margin of 0.06%. Sell-side analysts forecast 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 issued a $0.1315 dividend. The ex-dividend date was Thursday, March 27th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio (DPR) is currently -1,800,000.10%.

Wall Street Analysts Forecast Growth

ERIC has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday. StockNews.com downgraded shares of 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) 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.