Ritholtz Wealth Management grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Free Report) by 99.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 362,964 shares of the communications equipment provider’s stock after acquiring an additional 180,546 shares during the quarter. Ritholtz Wealth Management’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,925,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 54.9% in the 4th quarter. Park Avenue Securities LLC now owns 48,219 shares of the communications equipment provider’s stock valued at $389,000 after purchasing an additional 17,098 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $227,000. Claro Advisors LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at $259,000. Aprio Wealth Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 102.6% during the 4th quarter. Aprio Wealth Management LLC now owns 31,975 shares of the communications equipment provider’s stock worth $258,000 after acquiring an additional 16,196 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $102,000. Institutional investors own 7.99% of the company’s stock.
Wall Street Analyst Weigh In
ERIC has been the topic of a number of recent research reports. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st.
Telefonaktiebolaget LM Ericsson (publ) Stock Performance
NASDAQ ERIC opened at $8.54 on Friday. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of -284.67 and a beta of 0.79. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The stock has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $7.61.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.43 EPS for the current year.
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.
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