Ericsson (NASDAQ:ERIC) Announces $0.17 Dividend

Ericsson (NASDAQ:ERIC) declared a dividend on Friday, January 23rd, NASDAQ Dividends reports. Shareholders of record on Thursday, April 2nd will be paid a dividend of 0.1663 per share by the communications equipment provider on Monday, March 30th. The ex-dividend date is Thursday, April 2nd.

Ericsson has increased its dividend by an average of 0.1%annually over the last three years. Ericsson has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ericsson to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 41.5%.

Ericsson Trading Down 1.0%

Shares of Ericsson stock opened at $11.03 on Tuesday. The firm has a market cap of $37.18 billion, a PE ratio of 12.53, a P/E/G ratio of 1.95 and a beta of 0.92. Ericsson has a 1 year low of $6.64 and a 1 year high of $12.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 1.08. The stock has a fifty day moving average price of $11.12 and a 200-day moving average price of $9.93.

Hedge Funds Weigh In On Ericsson

A number of large investors have recently made changes to their positions in ERIC. Brown Brothers Harriman & Co. bought a new stake in shares of Ericsson during the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp raised its stake in Ericsson by 12.4% in the third quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 1,441 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ericsson during the first quarter valued at approximately $126,000. Hennessy Advisors Inc. grew its stake in Ericsson by 10.3% in the 4th quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock worth $158,000 after buying an additional 1,518 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Ericsson by 57.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 20,485 shares of the communications equipment provider’s stock worth $174,000 after buying an additional 7,452 shares during the last quarter. 7.99% of the stock is owned by institutional investors.

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.