OVERSEA CHINESE BANKING Corp Ltd Acquires 64,616 Shares of 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 fourth quarter, Holdings Channel.com reports. The fund owned 77,777 shares of the communications equipment provider’s stock after purchasing an additional 64,616 shares during the period. 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 made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $77,000. Valeo Financial Advisors LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $81,000. Endowment Wealth Management Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $91,000. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $94,000. Institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut 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) Price Performance

Shares of ERIC stock opened at $8.25 on Friday. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of -825,000.00, a PEG ratio of 3.89 and a beta of 0.81. The business’s fifty day moving average is $8.08 and its 200 day moving average is $8.02. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released 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 return on equity of 13.70% and a net margin of 0.06%. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 27th were paid a $0.1315 dividend. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. The ex-dividend date was Thursday, March 27th. 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.