Diversified Trust Co Acquires 140,116 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Diversified Trust Co lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 68.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 343,965 shares of the communications equipment provider’s stock after buying an additional 140,116 shares during the quarter. Diversified Trust Co’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,772,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ERIC. Allspring Global Investments Holdings LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 2,458 shares during the period. Natixis Advisors LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 19.2% during the 2nd quarter. Natixis Advisors LLC now owns 93,150 shares of the communications equipment provider’s stock valued at $575,000 after purchasing an additional 15,006 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 49.0% in the 2nd quarter. Lake Street Advisors Group LLC now owns 15,341 shares of the communications equipment provider’s stock worth $95,000 after buying an additional 5,047 shares during the period. Acadian Asset Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $11,869,000. Finally, Caprock Group LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.7% during the second quarter. Caprock Group LLC now owns 68,230 shares of the communications equipment provider’s stock valued at $421,000 after buying an additional 8,731 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC stock opened at $8.17 on Wednesday. The stock’s 50-day moving average is $8.18 and its 200 day moving average is $7.53. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The company has a market cap of $27.23 billion, a P/E ratio of -272.33 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ERIC shares. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.70.

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.