Mirae Asset Global Investments Co. Ltd. Has $3.62 Million Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 574,164 shares of the communications equipment provider’s stock after acquiring an additional 140,462 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Earnest Partners LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the fourth quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock worth $1,374,000 after acquiring an additional 21,523 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.9% during the fourth quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 12,391 shares during the period. Legacy Wealth Asset Management LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 12.6% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock valued at $601,000 after buying an additional 10,638 shares during the last quarter. Caprock Group LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 32.0% in the 4th quarter. Caprock Group LLC now owns 56,252 shares of the communications equipment provider’s stock valued at $354,000 after buying an additional 13,638 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 202.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock valued at $291,000 after buying an additional 33,376 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ERIC has been the topic of several recent research reports. Barclays lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. Finally, UBS Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $4.88 on Wednesday. The firm has a 50-day moving average of $5.39 and a 200-day moving average of $5.35. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $6.36. The company has a market cap of $16.25 billion, a PE ratio of -6.68 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.82% and a positive return on equity of 11.77%. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, April 5th were issued a dividend of $0.1293 per share. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. The ex-dividend date of this dividend was Thursday, April 4th. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is presently -23.29%.

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.