Ericsson $ERIC Shares Purchased by ABC Arbitrage SA

ABC Arbitrage SA grew its position in shares of Ericsson (NASDAQ:ERIC) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,389,009 shares of the communications equipment provider’s stock after acquiring an additional 1,179,194 shares during the quarter. Ericsson comprises 3.9% of ABC Arbitrage SA’s holdings, making the stock its 5th largest holding. ABC Arbitrage SA’s holdings in Ericsson were worth $42,354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ERIC. Brown Brothers Harriman & Co. bought a new stake in Ericsson during the 3rd quarter valued at $28,000. Jones Financial Companies Lllp lifted its stake in shares of Ericsson by 12.4% in the third quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 1,441 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ericsson during the first quarter valued at about $126,000. Hennessy Advisors Inc. increased its position in shares of Ericsson by 10.3% during the fourth quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Ericsson by 57.6% during the third quarter. Neuberger Berman Group LLC now owns 32,277 shares of the communications equipment provider’s stock worth $267,000 after acquiring an additional 11,792 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

Ericsson Trading Up 5.1%

Shares of ERIC stock opened at $12.49 on Tuesday. Ericsson has a 52-week low of $7.16 and a 52-week high of $12.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 1.12. The company has a 50-day simple moving average of $11.57 and a two-hundred day simple moving average of $10.56. The company has a market capitalization of $42.10 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.91 and a beta of 0.88.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Argus raised shares of Ericsson to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen lowered Ericsson from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup reissued a “neutral” rating on shares of Ericsson in a research note on Tuesday, April 28th. Finally, Morgan Stanley started coverage on Ericsson in a research report on Monday, February 9th. They set an “equal weight” rating and a $11.00 target price on the stock. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $11.00.

Ericsson Company Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.