Mirae Asset Global Investments Co. Ltd. Buys 140,462 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 32.4% during the 4th quarter, Holdings Channel reports. The fund owned 574,164 shares of the communications equipment provider’s stock after acquiring an additional 140,462 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ERIC. Campbell & CO Investment Adviser LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock worth $291,000 after acquiring an additional 33,376 shares in the last quarter. BNP Paribas Arbitrage SNC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after purchasing an additional 32,373 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 186.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 47,858 shares of the communications equipment provider’s stock valued at $302,000 after purchasing an additional 31,135 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.1% in the fourth quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 21,523 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $103,000. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $4.88 on Wednesday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36. The company has a 50-day simple moving average of $5.39 and a 200 day simple moving average of $5.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.20. The company has a market capitalization of $16.25 billion, a PE ratio of -6.68 and a beta of 0.76.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.82% and a positive return on equity of 11.77%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter last year, the company posted $0.20 earnings per share. On average, research analysts predict 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. Investors of record on Friday, April 5th were issued a dividend of $0.1293 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is -23.29%.

Wall Street Analysts Forecast Growth

ERIC has been the subject of several analyst reports. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. UBS Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Profile

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.