Sanctuary Advisors LLC Boosts Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Sanctuary Advisors LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 80.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,662 shares of the communications equipment provider’s stock after acquiring an additional 10,530 shares during the quarter. Sanctuary Advisors LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $193,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings 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 valued at $43,000 after purchasing an additional 3,924 shares during the last quarter. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $41,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 2,458 shares during the period. Vest Financial LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth $77,000. Finally, GAMMA Investing LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 92.8% in the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock valued at $80,000 after purchasing an additional 5,070 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERIC has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of 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. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.2 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.10 on Monday. The stock has a 50-day simple moving average of $8.24 and a 200-day simple moving average of $7.42. The company has a market capitalization of $26.99 billion, a P/E ratio of -270.00 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 fifty-two week low of $4.77 and a fifty-two week high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current 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.