Captrust Financial Advisors Grows Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Captrust Financial Advisors boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,867 shares of the communications equipment provider’s stock after purchasing an additional 6,278 shares during the quarter. Captrust Financial Advisors’ holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $188,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Bank of Montreal Can raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after purchasing an additional 13,531,221 shares in the last quarter. DigitalBridge Group Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $17,940,000. FMR LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after purchasing an additional 463,415 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $11,869,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ERIC shares. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.8 %

Shares of ERIC opened at $8.23 on Tuesday. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The company has a market cap of $27.43 billion, a P/E ratio of -274.33 and a beta of 0.79. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $8.20 and its 200-day simple moving average is $7.30.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its 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 business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. As a group, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 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.