Blueshift Asset Management LLC Invests $240,000 in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Blueshift Asset Management LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 29,827 shares of the communications equipment provider’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ERIC. Smartleaf Asset Management LLC boosted its stake in shares of 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 buying an additional 2,840 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $77,000. Valeo Financial Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $81,000. Endowment Wealth Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $91,000. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $94,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $8.17 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. The company has a market capitalization of $27.23 billion, a P/E ratio of -817,000.00, a PEG ratio of 3.89 and a beta of 0.81. The business has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $8.02. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1315 per share. The ex-dividend date of this dividend was Thursday, March 27th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is currently -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.