Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,340 shares of the communications equipment provider’s stock after selling 1,867 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $116,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $7.86 on Friday. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of -786,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $8.06 and a 200 day moving average price of $8.04.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.1315 per share. 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 presently -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.