Ericsson (NASDAQ:ERIC) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Ericsson (NASDAQ:ERIC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.08 and traded as high as $11.53. Ericsson shares last traded at $11.51, with a volume of 8,698,290 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Argus raised shares of Ericsson to a “hold” rating in a report on Monday, January 26th. Morgan Stanley assumed coverage on Ericsson in a report on Monday, February 9th. They set an “equal weight” rating and a $11.00 target price for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ericsson in a research report on Monday, December 29th. Citigroup reiterated a “neutral” rating on shares of Ericsson in a report on Friday, January 16th. Finally, Wall Street Zen raised Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $10.40.

Ericsson Stock Down 0.3%

The firm has a market capitalization of $38.80 billion, a P/E ratio of 13.08, a PEG ratio of 2.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.29. The business’s fifty day moving average price is $11.29 and its two-hundred day moving average price is $10.08.

Ericsson Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.1663 dividend. The ex-dividend date was Thursday, April 2nd. Ericsson’s dividend payout ratio (DPR) is currently 25.00%.

Institutional Trading of Ericsson

A number of institutional investors have recently modified their holdings of the company. Defiance ETFs LLC bought a new stake in shares of Ericsson in the 4th quarter valued at about $13,766,000. Russell Investments Group Ltd. boosted its holdings in shares of Ericsson by 19.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,903,298 shares of the communications equipment provider’s stock valued at $18,603,000 after buying an additional 304,974 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Ericsson in the 4th quarter valued at about $429,000. Neuberger Berman Group LLC boosted its holdings in shares of Ericsson by 33.9% in the 4th quarter. Neuberger Berman Group LLC now owns 43,232 shares of the communications equipment provider’s stock valued at $417,000 after buying an additional 10,955 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Ericsson by 229.3% in the 4th quarter. Van ECK Associates Corp now owns 1,252,437 shares of the communications equipment provider’s stock valued at $12,086,000 after buying an additional 872,065 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Ericsson Company Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.