Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 834,087 shares of the communications equipment provider’s stock after acquiring an additional 41,851 shares during the period. First Trust Advisors LP’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $6,723,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. GeoWealth Management LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,840 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $77,000. Valeo Financial Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $81,000. Finally, Diametric Capital LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $85,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.7 %

Shares of ERIC stock opened at $8.30 on Wednesday. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.00 and a 1-year high of $8.90. The company has a market cap of $27.66 billion, a price-to-earnings ratio of -830,000.00, a PEG ratio of 3.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $7.96 and a 200-day simple moving average of $8.08.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities 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 report on Thursday, April 17th. JPMorgan Chase & Co. upped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Finally, Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th.

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.