Oppenheimer & Co. Inc. Purchases 536,807 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Oppenheimer & Co. Inc. raised its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 164.6% in the 2nd quarter, Holdings Channel reports. The firm owned 862,856 shares of the communications equipment provider’s stock after buying an additional 536,807 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $5,324,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Natixis Advisors L.P. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 15.4% during the fourth quarter. Natixis Advisors L.P. now owns 89,110 shares of the communications equipment provider’s stock valued at $561,000 after buying an additional 11,909 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.6% in the 4th quarter. QRG Capital Management Inc. now owns 107,824 shares of the communications equipment provider’s stock valued at $679,000 after acquiring an additional 2,753 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 198.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 40,141 shares of the communications equipment provider’s stock valued at $253,000 after acquiring an additional 26,684 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $64,000. Finally, Seven Eight Capital LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $584,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.1 %

Shares of ERIC stock opened at $7.46 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market cap of $24.86 billion, a P/E ratio of -7.54 and a beta of 0.83. The business has a 50-day moving average price of $6.94 and a two-hundred day moving average price of $6.08. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $7.48.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.29 billion. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal 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.