Massey Quick Simon & CO. LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 16,348 shares of the communications equipment provider’s stock, valued at approximately $130,000.

Several other institutional investors have also recently added to or reduced their stakes in ERIC. Wrapmanager Inc. lifted its position in shares of Telefonaktiebolaget LM Ericsson by 27.7% during the 2nd quarter. Wrapmanager Inc. now owns 13,181 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 2,863 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Telefonaktiebolaget LM Ericsson in the 2nd quarter worth approximately $96,000. Advisory Services Network LLC lifted its holdings in Telefonaktiebolaget LM Ericsson by 578.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,282 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 2,798 shares in the last quarter. Rational Advisors LLC lifted its holdings in Telefonaktiebolaget LM Ericsson by 438.0% in the 2nd quarter. Rational Advisors LLC now owns 110,444 shares of the communications equipment provider’s stock worth $1,050,000 after purchasing an additional 89,914 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Telefonaktiebolaget LM Ericsson by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 138,900 shares of the communications equipment provider’s stock worth $1,320,000 after purchasing an additional 11,192 shares in the last quarter. Institutional investors and hedge funds own 8.19% of the company’s stock.

ERIC has been the topic of a number of research analyst reports. BidaskClub raised Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. DZ Bank raised Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Santander downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Goldman Sachs Group raised Telefonaktiebolaget LM Ericsson from a “buy” rating to a “conviction-buy” rating and set a $11.50 target price on the stock in a research report on Monday, July 29th. Finally, ValuEngine downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.07.

Telefonaktiebolaget LM Ericsson stock traded up $0.15 during mid-day trading on Wednesday, hitting $8.62. The company’s stock had a trading volume of 2,983,170 shares, compared to its average volume of 5,809,137. The company has a 50 day moving average of $8.04 and a 200-day moving average of $9.04. The stock has a market cap of $27.96 billion, a PE ratio of 287.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.42. Telefonaktiebolaget LM Ericsson has a one year low of $7.58 and a one year high of $10.46.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Wednesday, July 17th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The business had revenue of $54.80 billion during the quarter, compared to the consensus estimate of $53.25 billion. Telefonaktiebolaget LM Ericsson had a net margin of 0.16% and a return on equity of 6.37%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. On average, equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.37 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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