Hsbc Holdings PLC Takes Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Hsbc Holdings PLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,914,726 shares of the communications equipment provider’s stock, valued at approximately $17,940,000. Hsbc Holdings PLC owned 0.09% of Telefonaktiebolaget LM Ericsson (publ) at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ERIC. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 119,097 shares of the communications equipment provider’s stock valued at $735,000 after acquiring an additional 14,806 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after purchasing an additional 1,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 161,719 shares of the communications equipment provider’s stock valued at $998,000 after buying an additional 19,562 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 164.6% during the second quarter. Oppenheimer & Co. Inc. now owns 862,856 shares of the communications equipment provider’s stock worth $5,324,000 after buying an additional 536,807 shares during the last quarter. Finally, BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %

Shares of NASDAQ:ERIC opened at $7.57 on Monday. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $7.65. The firm has a market cap of $25.23 billion, a P/E ratio of -7.65 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $7.04 and its two-hundred day moving average price is $6.15.

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

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.90.

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.