Sanctuary Advisors LLC Grows Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Sanctuary Advisors LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 80.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,662 shares of the communications equipment provider’s stock after purchasing an additional 10,530 shares during the period. Sanctuary Advisors LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ERIC. BOKF NA acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 2,458 shares during the period. Vest Financial LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth approximately $77,000. Finally, Choreo LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $78,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.10 on Monday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.62. The firm has a market capitalization of $26.99 billion, a price-to-earnings ratio of -270.00 and a beta of 0.79. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $8.24 and a 200-day simple moving average of $7.42.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. On average, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ERIC. JPMorgan Chase & Co. boosted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.70.

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.