Kovack Advisors Inc. lessened its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,757 shares of the communications equipment provider’s stock after selling 3,747 shares during the quarter. Kovack Advisors Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $659,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 151.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 22,712 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 13,683 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth approximately $145,000. Pinnacle Associates Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth $363,000. US Bancorp DE grew its position in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 146,141 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 174.3% during the 3rd quarter. QRG Capital Management Inc. now owns 516,387 shares of the communications equipment provider’s stock valued at $3,914,000 after purchasing an additional 328,156 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 24th.
Telefonaktiebolaget LM Ericsson (publ) Price Performance
ERIC stock opened at $8.22 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The business has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $7.90. The company has a market capitalization of $27.39 billion, a P/E ratio of -822,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.90.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) last announced its 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%. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.
Telefonaktiebolaget LM Ericsson (publ) Increases Dividend
The company also recently announced a dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, March 27th were paid a $0.1315 dividend. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. The ex-dividend date was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is presently -1,700,000.00%.
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.
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