Commonwealth Equity Services LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 96.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,126 shares of the communications equipment provider’s stock after purchasing an additional 17,716 shares during the period. Commonwealth Equity Services LLC’s holdings in Telefonaktiebolaget LM Ericsson were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson by 5,146.6% in the 1st quarter. SG Americas Securities LLC now owns 845,444 shares of the communications equipment provider’s stock worth $5,411,000 after buying an additional 829,330 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Telefonaktiebolaget LM Ericsson in the 1st quarter worth about $725,000. Financial Gravity Companies Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson by 62.9% in the 1st quarter. Financial Gravity Companies Inc. now owns 18,492 shares of the communications equipment provider’s stock worth $138,000 after buying an additional 7,141 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson in the 1st quarter worth about $202,000. Finally, Aperio Group LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson by 7.1% in the 1st quarter. Aperio Group LLC now owns 879,911 shares of the communications equipment provider’s stock worth $5,631,000 after buying an additional 58,409 shares during the last quarter. Institutional investors own 8.18% of the company’s stock.

ERIC has been the topic of a number of research analyst reports. BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 13th. Bank of America raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “neutral” rating in a report on Wednesday, July 25th. Zacks Investment Research raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Tuesday, July 3rd. Raymond James downgraded shares of Telefonaktiebolaget LM Ericsson from a “market perform” rating to an “underperform” rating in a report on Friday, July 20th. Finally, ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $6.43.

NASDAQ ERIC opened at $8.42 on Friday. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of -18.09 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.52 and a 52 week high of $8.61. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Wednesday, July 18th. The communications equipment provider reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). The business had revenue of $49.80 billion for the quarter, compared to analysts’ expectations of $48.09 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 13.14% and a negative return on equity of 5.62%. Telefonaktiebolaget LM Ericsson’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.19 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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