Connor Clark & Lunn Investment Management Ltd. Takes $1.01 Million Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, Holdings Channel reports. The firm bought 125,552 shares of the communications equipment provider’s stock, valued at approximately $1,012,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 68.7% in the fourth quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock valued at $2,772,000 after purchasing an additional 140,116 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% in the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 10,530 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock valued at $3,638,000 after buying an additional 239,651 shares during the period. Paloma Partners Management Co bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $3,032,000. Finally, Verition Fund Management LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after buying an additional 73,320 shares during the period. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.5 %

Shares of ERIC stock opened at $8.25 on Friday. 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 stock has a market cap of $27.49 billion, a P/E ratio of -825,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81. The stock has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $8.02. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year 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 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, research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1315 per share. The ex-dividend date of this dividend was Thursday, March 27th. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is presently -1,700,000.00%.

Analysts Set New Price Targets

Separately, StockNews.com cut 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) 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.