Ashton Thomas Private Wealth LLC Invests $3 Million in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Ashton Thomas Private Wealth LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 371,978 shares of the communications equipment provider’s stock, valued at approximately $2,998,000.

A number of other large investors have also modified their holdings of the business. FMR LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock worth $18,287,000 after buying an additional 463,415 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the period. Verition Fund Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after purchasing an additional 73,320 shares during the period. US Bancorp DE grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% in the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock valued at $7,806,000 after purchasing an additional 787,154 shares during the period. Finally, Drum Hill Capital LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $5,773,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.4 %

Shares of ERIC opened at $8.66 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90. The firm has a 50-day moving average price of $8.07 and a 200 day moving average price of $7.96. The firm has a market capitalization of $28.86 billion, a P/E ratio of -866,000.00, a P/E/G ratio of 3.89 and a beta of 0.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, March 27th were given a $0.1315 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. 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.