B. Riley Wealth Advisors Inc. Acquires Shares of 80,254 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

B. Riley Wealth Advisors Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,254 shares of the communications equipment provider’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ERIC. Planned Solutions Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth about $38,000. Lake Street Advisors Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $64,000. 626 Financial LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $72,000. International Assets Investment Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $103,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $112,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERIC has been the topic of several recent research reports. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.3 %

NASDAQ:ERIC opened at $5.96 on Monday. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of -8.51 and a beta of 0.82. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $6.36. The business’s 50-day moving average price is $5.63 and its two-hundred day moving average price is $5.65. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.33 billion. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current year.

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.