Arrowstreet Capital Limited Partnership Sells 86,848 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Arrowstreet Capital Limited Partnership trimmed its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,555,484 shares of the communications equipment provider’s stock after selling 86,848 shares during the period. Arrowstreet Capital Limited Partnership owned 0.98% of Telefonaktiebolaget LM Ericsson (publ) worth $262,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $77,000. Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $81,000. Endowment Wealth Management Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $91,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $94,000. 7.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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) Stock Down 1.0 %

ERIC opened at $7.78 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. The stock has a fifty day moving average of $8.05 and a 200-day moving average of $8.05. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.90. The company has a market capitalization 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 issued 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 return on equity of 13.70% and a net margin of 0.06%. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

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

Telefonaktiebolaget LM Ericsson (publ) 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.