Allspring Global Investments Holdings LLC Boosts Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Allspring Global Investments Holdings LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 37.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,029 shares of the communications equipment provider’s stock after buying an additional 2,458 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Hennessy Advisors Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 30.9% in the second quarter. Hennessy Advisors Inc. now owns 23,957 shares of the communications equipment provider’s stock worth $148,000 after buying an additional 5,658 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the second quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 11,791 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of 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 valued at $87,000 after purchasing an additional 2,024 shares in the last quarter. Williams & Novak LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $76,000. Finally, Gateway Investment Advisers LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after purchasing an additional 584,201 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.1 %

NASDAQ:ERIC opened at $7.30 on Tuesday. The company’s 50 day moving average price is $6.85 and its 200-day moving average price is $6.03. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $7.48. 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 stock has a market cap of $24.33 billion, a price-to-earnings ratio of -7.37 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results 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). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. On average, equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.