Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 154.7% during the third quarter, Holdings Channel reports. The fund owned 56,837 shares of the communications equipment provider’s stock after acquiring an additional 34,521 shares during the quarter. MML Investors Services LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $41,000. Hexagon Capital Partners LLC boosted its stake in 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 worth $43,000 after buying an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 2,458 shares during the period. Vest Financial LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at about $77,000. Finally, Choreo LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth about $78,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted 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 report on Monday, October 21st. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.6 %

ERIC opened at $8.11 on Tuesday. The company has a market cap of $27.03 billion, a PE ratio of -270.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The firm has a 50 day moving average price of $8.25 and a 200 day moving average price of $7.35.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates 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%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) 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.