Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Position Increased by Intrust Bank NA

Intrust Bank NA lifted its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 77.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,828 shares of the communications equipment provider’s stock after acquiring an additional 15,658 shares during the period. Intrust Bank NA’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after purchasing an additional 290,949 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 3,201 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 186.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 47,858 shares of the communications equipment provider’s stock valued at $302,000 after acquiring an additional 31,135 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $103,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.2 %

ERIC stock opened at $5.08 on Thursday. The company has a 50-day moving average of $5.34 and a two-hundred day moving average of $5.37. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.22.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ERIC. UBS Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. reduced their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) 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.