Pinnacle Associates Ltd. Has $302,000 Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Pinnacle Associates Ltd. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICFree Report) by 186.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,858 shares of the communications equipment provider’s stock after acquiring an additional 31,135 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Earnest Partners LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the 4th quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock worth $1,374,000 after buying an additional 21,523 shares during the period. Ritholtz Wealth Management boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 9.9% during the 4th quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock worth $870,000 after buying an additional 12,391 shares during the period. Legacy Wealth Asset Management LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 12.6% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock worth $601,000 after buying an additional 10,638 shares during the period. Caprock Group LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 32.0% during the 4th quarter. Caprock Group LLC now owns 56,252 shares of the communications equipment provider’s stock worth $354,000 after buying an additional 13,638 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock worth $291,000 after buying an additional 33,376 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. UBS Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Jefferies Financial Group upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.90.

Read Our Latest Stock Analysis on ERIC

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC opened at $5.46 on Thursday. The company has a fifty day moving average of $5.49 and a 200-day moving average of $5.34. The firm has a market capitalization of $18.18 billion, a P/E ratio of -7.48 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last released its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.82% and a positive return on equity of 11.77%. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.42 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, April 5th were paid a $0.1293 dividend. The ex-dividend date was Thursday, April 4th. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is currently -21.92%.

Telefonaktiebolaget LM Ericsson (publ) Profile

(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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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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