Ericsson (NASDAQ:ERIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ericsson (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Other equities analysts have also issued reports about the stock. Argus raised shares of Ericsson to a “hold” rating in a research report on Monday, January 26th. Citigroup reissued a “neutral” rating on shares of Ericsson in a research report on Friday, January 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Ericsson in a research note on Monday, December 29th. Finally, Morgan Stanley started coverage on shares of Ericsson in a report on Monday, February 9th. They issued an “equal weight” rating and a $11.00 price target for the company. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $10.40.

Ericsson Trading Up 1.9%

Shares of NASDAQ:ERIC opened at $11.34 on Friday. The business’s 50-day moving average is $10.54 and its 200 day moving average is $9.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 1.08. Ericsson has a 1 year low of $6.64 and a 1 year high of $11.64. The firm has a market capitalization of $38.23 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.94 and a beta of 0.92.

Ericsson Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, March 9th. Investors of record on Thursday, April 2nd were issued a dividend of $0.1663 per share. The ex-dividend date of this dividend was Thursday, April 2nd. Ericsson’s payout ratio is 22.73%.

Hedge Funds Weigh In On Ericsson

Several hedge funds and other institutional investors have recently bought and sold shares of ERIC. Brown Brothers Harriman & Co. purchased a new position in Ericsson during the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its holdings in shares of Ericsson by 12.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock valued at $107,000 after acquiring an additional 1,441 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ericsson in the 1st quarter valued at $126,000. Hennessy Advisors Inc. increased its stake in shares of Ericsson by 10.3% in the fourth quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 1,518 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Ericsson by 57.2% during the second quarter. Neuberger Berman Group LLC now owns 20,485 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 7,452 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Ericsson

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.