Empower Advisory Group LLC Has $151,000 Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Empower Advisory Group LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 23.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,900 shares of the communications equipment provider’s stock after buying an additional 3,844 shares during the quarter. Empower Advisory Group LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. GAMMA Investing LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth approximately $36,000. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Finally, Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.97 on Friday. The business has a 50 day simple moving average of $7.88 and a 200 day simple moving average of $6.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.62. The company has a market capitalization of $26.56 billion, a PE ratio of -265.00 and a beta of 0.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) 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 firm had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. On average, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.