Blueshift Asset Management LLC Makes New Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Blueshift Asset Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,827 shares of the communications equipment provider’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ERIC. Checchi Capital Advisers LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 1,464 shares during the period. First Affirmative Financial Network grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% in the 4th quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock valued at $324,000 after buying an additional 1,798 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the 3rd quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock worth $264,000 after buying an additional 1,866 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock valued at $228,000 after buying an additional 2,172 shares during the period. Finally, Pitcairn Co. lifted its holdings 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 valued at $135,000 after acquiring an additional 2,279 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

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) Trading Down 1.0 %

Shares of ERIC stock opened at $8.17 on Friday. The company has a 50-day moving average of $8.08 and a two-hundred day moving average of $8.02. The firm has a market cap of $27.23 billion, a PE ratio of -817,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90. 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 announced its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (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%. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, March 27th were given a $0.1315 dividend. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. The ex-dividend date was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)’s 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.