Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 448.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,296 shares of the communications equipment provider's stock after acquiring an additional 73,835 shares during the quarter. Townsquare Capital LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $728,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 2,840 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $77,000. Valeo Financial Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $81,000. Diametric Capital LP acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $85,000. Finally, Endowment Wealth Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at $91,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.02 during mid-day trading on Thursday, reaching $8.30. The company's stock had a trading volume of 17,071,501 shares, compared to its average volume of 18,068,768. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of -829,500.00, a PEG ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a twelve month low of $5.00 and a twelve month high of $8.90. The business has a 50 day moving average price of $7.93 and a 200-day moving average price of $8.06. 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 announced its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $55.83 billion. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were given 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 360.00%.

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.