Raymond James Financial Inc. Makes New $860,000 Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Raymond James Financial Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 106,713 shares of the communications equipment provider’s stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. Two Sigma Advisers LP lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% in the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock worth $7,806,000 after buying an additional 787,154 shares during the period. Drum Hill Capital LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $5,773,000. FMR LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after acquiring an additional 463,415 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $3,705,000. Institutional investors own 7.99% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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) Stock Down 6.8 %

Shares of ERIC stock opened at $6.97 on Friday. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of -697,000.00, a PEG ratio of 3.89 and a beta of 0.81. 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’s 50 day simple moving average is $7.95 and its 200 day simple moving average is $8.05. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share 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%. As a group, research analysts predict 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. Shareholders of record on Thursday, March 27th were given a $0.1315 dividend. This is a positive change 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 (DPR) 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.