Redburn Partners started coverage on shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) in a research report report published on Monday, The Fly reports. The brokerage issued a neutral rating on the communications equipment provider's stock.

A number of other brokerages have also issued reports on ERIC. Cheuvreux lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a buy rating to a hold rating in a research report on Friday, July 15th. Kepler Capital Markets lowered shares of Telefonaktiebolaget LM Ericsson (publ) to a hold rating in a research report on Friday, July 15th. Cowen decreased their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $15.00 to $11.00 in a research report on Friday, July 15th. UBS Group decreased their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 78 in a research report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 80 in a research report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $77.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.7 %

Shares of NASDAQ:ERIC opened at $5.85 on Monday. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 7.60 and a beta of 0.41. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.78 and a 1-year high of $12.78. The company's fifty day moving average is $7.24 and its two-hundred day moving average is $7.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.25 and a current ratio of 1.60.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.076 per share. The ex-dividend date of this dividend is Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio (DPR) is presently 23.38%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERIC. Credit Suisse AG grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 398.4% during the second quarter. Credit Suisse AG now owns 3,668,232 shares of the communications equipment provider's stock valued at $27,146,000 after purchasing an additional 2,932,251 shares during the last quarter. AGF Investments Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the first quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider's stock worth $39,531,000 after acquiring an additional 2,297,972 shares during the last quarter. Finally, George Kaiser Family Foundation grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 53.4% in the second quarter. George Kaiser Family Foundation now owns 246,938 shares of the communications equipment provider's stock worth $1,827,000 after acquiring an additional 85,964 shares during the last quarter. Institutional investors and hedge funds own 8.53% of the company's stock.

About Telefonaktiebolaget LM Ericsson (publ)

(Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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