Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stake Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,966 shares of the communications equipment provider’s stock after purchasing an additional 3,726 shares during the period. PNC Financial Services Group Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ERIC. 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 during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $77,000. Valeo Financial Advisors LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $81,000. Alliance Wealth Advisors LLC UT purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $94,000. Finally, Sage Rhino Capital LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $95,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.25 on Friday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.90. The company’s fifty day simple moving average is $8.08 and its 200-day simple moving average is $8.02. The company 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 company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

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 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%. As a group, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm 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. The ex-dividend date was Thursday, March 27th. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is -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.