Arrowstreet Capital Limited Partnership Sells 86,848 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Arrowstreet Capital Limited Partnership reduced its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,555,484 shares of the communications equipment provider’s stock after selling 86,848 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $262,397,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 55.0% during the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock worth $38,755,000 after purchasing an additional 1,705,246 shares during the period. FMR LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock worth $18,287,000 after buying an additional 463,415 shares during the period. Two Sigma Advisers LP increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after acquiring an additional 2,020,200 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider’s stock valued at $14,475,000 after acquiring an additional 638,393 shares during the period. Finally, Verition Fund Management LLC boosted its stake in 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 acquiring an additional 73,320 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of 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) Stock Down 1.0 %

Shares of NASDAQ:ERIC opened at $7.78 on Friday. The firm has a market cap of $25.93 billion, a P/E ratio of -778,000.00, a PEG 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 business’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $8.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly 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%. As a group, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were issued 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 is currently -1,700,000.00%.

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.