Claro Advisors LLC Acquires New Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Claro Advisors LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,169 shares of the communications equipment provider’s stock, valued at approximately $259,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Diversified Trust Co increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 68.7% in the 4th quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock worth $2,772,000 after acquiring an additional 140,116 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 10,530 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after buying an additional 239,651 shares during the period. US Bancorp DE grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after buying an additional 146,141 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at approximately $3,032,000. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC opened at $8.54 on Thursday. The business has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $7.60. 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 capitalization of $28.46 billion, a price-to-earnings ratio of -284.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased 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 research report on Monday, October 21st.

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.