Summit Securities Group LLC Purchases Shares of 68,929 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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

Several other hedge funds have also made changes to their positions in ERIC. Checchi Capital Advisers LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 10.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 1,464 shares during the period. First Affirmative Financial Network grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% during the 4th quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock worth $324,000 after purchasing an additional 1,798 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the third quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock valued at $264,000 after purchasing an additional 1,866 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% in the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 75,812 shares of the communications equipment provider’s stock worth $611,000 after buying an additional 2,763 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of 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 %

ERIC stock opened at $7.78 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90. 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 business’s 50 day moving average is $8.05 and its 200-day moving average is $8.05. The firm has a market cap of $25.93 billion, a P/E ratio of -778,000.00, a P/E/G ratio of 3.89 and a beta of 0.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released 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%. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1315 per share. 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%.

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.