Sei Investments Co. Raises Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Sei Investments Co. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 55.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,808,322 shares of the communications equipment provider's stock after buying an additional 1,705,246 shares during the period. Sei Investments Co. owned about 0.14% of Telefonaktiebolaget LM Ericsson (publ) worth $38,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the 4th 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $77,000. Valeo Financial Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $81,000. Endowment Wealth Management Inc. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at approximately $91,000. Finally, Alliance Wealth Advisors LLC UT acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $94,000. Institutional investors and hedge funds own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC opened at $8.22 on Tuesday. The stock has a fifty day moving average price of $8.08 and a two-hundred day moving average price of $8.04. The firm has a market cap of $27.39 billion, a P/E ratio of -822,000.00, a PEG ratio of 3.89 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17.

Remove Ads

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 return on equity of 13.70% and a net margin of 0.06%. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.1315 per share. 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%.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.