Aaron Wealth Advisors LLC Acquires New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Aaron Wealth Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,173 shares of the communications equipment provider’s stock, valued at approximately $198,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 1,777 shares during the last quarter. Profund Advisors LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after purchasing an additional 1,823 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after buying an additional 2,000 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after buying an additional 2,024 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 2,458 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.50 on Monday. The stock’s 50 day moving average is $7.46 and its 200 day moving average is $6.46. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $8.62. 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 company has a market capitalization of $28.33 billion, a P/E ratio of -8.59 and a beta of 0.83.

Analysts Set New Price Targets

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

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.