OVERSEA CHINESE BANKING Corp Ltd Raises Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 491.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,777 shares of the communications equipment provider’s stock after purchasing an additional 64,616 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 463.1% in the third quarter. Natixis Advisors LLC now owns 524,487 shares of the communications equipment provider’s stock worth $3,976,000 after buying an additional 431,337 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,182 shares of the communications equipment provider’s stock worth $1,661,000 after buying an additional 54,437 shares in the last quarter. Cerity Partners LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 38.7% in the third quarter. Cerity Partners LLC now owns 90,972 shares of the communications equipment provider’s stock worth $690,000 after buying an additional 25,366 shares in the last quarter. Pitcairn Co. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock worth $135,000 after buying an additional 2,279 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth approximately $439,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $8.25 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.90. The stock has a 50 day moving average price of $8.08 and a two-hundred day moving average price of $8.02. The company has a market capitalization of $27.49 billion, a P/E ratio of -825,000.00, a PEG ratio of 3.89 and a beta of 0.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate 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%. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 27th were given a $0.1315 dividend. The ex-dividend date was Thursday, March 27th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is presently -1,700,000.00%.

Analysts Set New Price Targets

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

Telefonaktiebolaget LM Ericsson (publ) Company 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.