Envestnet Asset Management Inc. raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 196.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,177,361 shares of the communications equipment provider's stock after purchasing an additional 779,639 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $9,490,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.8% in the 4th 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 raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% during the 4th 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 increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider's stock worth $228,000 after buying an additional 2,172 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 75,812 shares of the communications equipment provider's stock worth $611,000 after buying an additional 2,763 shares during the period. Finally, Smartleaf Asset Management LLC grew its position 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 acquiring an additional 2,840 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on ERIC shares. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock 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 report on Thursday, April 17th.
Get Our Latest Report on Telefonaktiebolaget LM Ericsson (publ)
Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.7 %
ERIC traded down $0.06 on Thursday, reaching $8.26. The company's stock had a trading volume of 12,026,758 shares, compared to its average volume of 22,282,971. 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 1 year low of $5.00 and a 1 year high of $8.90. The business's 50 day moving average is $7.93 and its 200 day moving average is $8.06. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of -825,500.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. As a group, research analysts forecast 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. Stockholders of record on Thursday, March 27th were paid 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 dividend payout ratio (DPR) is currently 360.00%.
About Telefonaktiebolaget LM Ericsson (publ)
(
Free Report)
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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