Quantitative Investment Management LLC Takes $1.35 Million Position in Ericsson $ERIC

Quantitative Investment Management LLC bought a new position in Ericsson (NASDAQ:ERIC) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 163,228 shares of the communications equipment provider’s stock, valued at approximately $1,349,000.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Ericsson by 7.5% in the first quarter. AQR Capital Management LLC now owns 134,891 shares of the communications equipment provider’s stock worth $1,049,000 after buying an additional 9,362 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ericsson during the first quarter valued at $126,000. Geode Capital Management LLC increased its position in Ericsson by 0.7% during the second quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider’s stock valued at $2,123,000 after acquiring an additional 1,658 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Ericsson in the second quarter valued at $291,000. Finally, Neuberger Berman Group LLC raised its stake in shares of Ericsson by 57.2% in the second quarter. Neuberger Berman Group LLC now owns 20,485 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 7,452 shares during the period. Institutional investors own 7.99% of the company’s stock.

Ericsson Price Performance

Shares of ERIC opened at $11.42 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.29. The company has a 50 day moving average price of $10.64 and a 200-day moving average price of $9.61. Ericsson has a fifty-two week low of $6.64 and a fifty-two week high of $11.70. The stock has a market capitalization of $38.50 billion, a PE ratio of 12.98, a PEG ratio of 2.00 and a beta of 0.93.

Ericsson Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, April 2nd were issued a $0.1663 dividend. The ex-dividend date was Thursday, April 2nd. Ericsson’s dividend payout ratio (DPR) is currently 22.73%.

Wall Street Analyst Weigh In

ERIC has been the subject of a number of recent analyst reports. Argus raised shares of Ericsson to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ericsson in a research note on Monday, December 29th. Citigroup restated a “neutral” rating on shares of Ericsson in a research report on Friday, January 16th. Finally, Morgan Stanley assumed coverage on Ericsson in a research note on Monday, February 9th. They set an “equal weight” rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $10.40.

Ericsson Company Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.