Summit Securities Group LLC Takes Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Summit Securities Group LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 68,929 shares of the communications equipment provider’s stock, valued at approximately $556,000.

A number of other institutional investors have also recently bought and sold shares of ERIC. Two Sigma Advisers LP increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd 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. Sei Investments Co. increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after buying an additional 1,705,246 shares during the period. US Bancorp DE increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 434.2% in the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock valued at $7,806,000 after buying an additional 787,154 shares during the period. Drum Hill Capital LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $5,773,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider’s stock valued at $14,475,000 after buying an additional 638,393 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.0 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.78 on Friday. The stock has a 50-day simple moving average of $8.05 and a 200-day simple moving average of $8.05. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.90. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of -778,000.00, a P/E/G ratio of 3.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96.

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 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%. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.1315 per share. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. The ex-dividend date of this dividend was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is -1,700,000.00%.

Analysts Set New Price Targets

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

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.