HighTower Advisors LLC Increases Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

HighTower Advisors LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 19.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 103,434 shares of the communications equipment provider’s stock after buying an additional 16,919 shares during the quarter. HighTower Advisors LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $782,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after acquiring an additional 239,651 shares during the period. US Bancorp DE lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after purchasing an additional 146,141 shares during the period. Paloma Partners Management Co bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at about $3,032,000. Verition Fund Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% during the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after buying an additional 73,320 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at about $1,545,000. 7.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $7.99 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The company has a 50 day simple moving average of $8.23 and a two-hundred day simple moving average of $7.32. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62. The company has a market capitalization of $26.63 billion, a price-to-earnings ratio of -266.33 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Company 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.