Merit Financial Group LLC Acquires New Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Merit Financial Group LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,287 shares of the communications equipment provider’s stock, valued at approximately $107,000.

Other large investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth about $77,000. GAMMA Investing LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after buying an additional 5,070 shares in the last quarter. Assetmark Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the 3rd quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock worth $94,000 after acquiring an additional 11,708 shares in the last quarter. Finally, Fulton Bank N.A. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $102,000. Institutional investors own 7.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ERIC. StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 14.4 %

Shares of NASDAQ ERIC opened at $7.62 on Monday. The company has a market cap of $25.39 billion, a price-to-earnings ratio of -254.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.90. The firm’s fifty day moving average is $8.23 and its 200 day moving average is $7.72. 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 (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 earnings per share for the current year.

About Telefonaktiebolaget LM Ericsson (publ)

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.