Telefonaktiebolaget LM Ericsson (ERIC) Holdings Raised by Eqis Capital Management Inc.

Eqis Capital Management Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 19.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,295 shares of the communications equipment provider’s stock after buying an additional 47,669 shares during the quarter. Eqis Capital Management Inc.’s holdings in Telefonaktiebolaget LM Ericsson were worth $2,738,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 1,367.0% in the fourth quarter. Millennium Management LLC now owns 5,566,488 shares of the communications equipment provider’s stock valued at $49,375,000 after purchasing an additional 5,187,045 shares during the period. Morgan Stanley grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 12.3% in the third quarter. Morgan Stanley now owns 5,125,882 shares of the communications equipment provider’s stock valued at $45,107,000 after purchasing an additional 561,794 shares during the period. FMR LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 34.8% in the fourth quarter. FMR LLC now owns 5,026,883 shares of the communications equipment provider’s stock valued at $44,588,000 after purchasing an additional 1,297,237 shares during the period. Cavalry Management Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at about $39,935,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 324.8% in the third quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock valued at $26,617,000 after purchasing an additional 2,312,625 shares during the period. 7.74% of the stock is owned by institutional investors and hedge funds.

ERIC has been the subject of several research analyst reports. BidaskClub lowered shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine raised shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. Cowen reaffirmed a “hold” rating and set a $10.00 target price on shares of Telefonaktiebolaget LM Ericsson in a research note on Sunday, April 21st. Finally, Zacks Investment Research lowered shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.14.

Shares of ERIC traded up $0.11 during mid-day trading on Friday, hitting $9.31. 6,004,107 shares of the company’s stock were exchanged, compared to its average volume of 6,522,252. The stock has a market capitalization of $30.67 billion, a PE ratio of 310.33 and a beta of 0.55. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $7.16 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.32.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48.35 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 1.46% and a positive return on equity of 3.79%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.37 earnings per share for the current year.

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About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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