203,849 Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Acquired by Diversified Trust Co

Diversified Trust Co acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 203,849 shares of the communications equipment provider’s stock, valued at approximately $1,545,000.

A number of other institutional investors have also recently made changes to their positions in ERIC. GAMMA Investing LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at about $36,000. BOKF NA bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at about $41,000. NBC Securities Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 7,744 shares during the period. Finally, Williams & Novak LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth about $76,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.2 %

ERIC stock opened at $7.52 on Wednesday. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $7.83. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of -7.60 and a beta of 0.83. The business’s 50 day moving average price is $7.24 and its two-hundred day moving average price is $6.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. As a group, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ERIC. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. StockNews.com lowered Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.90.

About Telefonaktiebolaget LM Ericsson (publ)

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.