PNC Financial Services Group Inc. Has $419,000 Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

PNC Financial Services Group Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,966 shares of the communications equipment provider’s stock after buying an additional 3,726 shares during the period. PNC Financial Services Group Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $419,000 at the end of the most recent quarter.

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

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 Up 0.5 %

Shares of ERIC opened at $8.25 on Friday. The firm’s 50-day simple moving average is $8.08 and its 200 day simple moving average is $8.02. 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 firm 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. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data 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, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current 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 given a $0.1315 dividend. 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 payout ratio is currently -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.