AQR Capital Management LLC Buys Shares of 95,885 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

AQR Capital Management LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 95,885 shares of the communications equipment provider’s stock, valued at approximately $592,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of 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 acquiring an additional 13,531,221 shares during the period. Hsbc Holdings PLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth approximately $17,940,000. Acadian Asset Management LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth approximately $11,869,000. Marshall Wace LLP grew its position in Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock worth $11,711,000 after acquiring an additional 535,933 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 164.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 862,856 shares of the communications equipment provider’s stock worth $5,324,000 after buying an additional 536,807 shares during the period. 7.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ERIC has been the subject of several recent analyst reports. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $7.54 on Tuesday. The firm has a market cap of $25.13 billion, a PE ratio of -7.62 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.83. The company has a fifty day moving average price of $7.32 and a 200 day moving average price of $6.38.

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