Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by Earnest Partners LLC

Earnest Partners LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,928 shares of the communications equipment provider’s stock after buying an additional 80,273 shares during the quarter. Earnest Partners LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ERIC. Oppenheimer & Co. Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after purchasing an additional 819,083 shares during the last quarter. First Affirmative Financial Network grew its position in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 2,268 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 15.4% in the fourth quarter. Natixis Advisors L.P. now owns 89,110 shares of the communications equipment provider’s stock valued at $561,000 after acquiring an additional 11,909 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock valued at $1,047,000 after acquiring an additional 8,086 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after acquiring an additional 290,949 shares in the last quarter. 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 several analyst reports. JPMorgan Chase & Co. lifted 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 report on Monday, July 15th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) presently has a consensus rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC traded up $0.03 during midday trading on Tuesday, hitting $6.78. The company had a trading volume of 4,478,469 shares, compared to its average volume of 16,624,732. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.81. The business has a 50-day simple moving average of $6.22 and a two-hundred day simple moving average of $5.72.

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.