DigitalBridge Group Inc. Boosts Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

DigitalBridge Group Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,382,140 shares of the communications equipment provider's stock after purchasing an additional 1,427,386 shares during the quarter. Telefonaktiebolaget LM Ericsson (publ) accounts for about 3.7% of DigitalBridge Group Inc.'s portfolio, making the stock its 7th biggest position. DigitalBridge Group Inc. owned about 0.19% of Telefonaktiebolaget LM Ericsson (publ) worth $51,440,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GeoWealth Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth about $36,000. Smartleaf Asset Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock worth $40,000 after buying an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $77,000. Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $81,000. Finally, Diametric Capital LP acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $85,000. Institutional investors own 7.99% of the company's stock.

Analysts Set New Price Targets

ERIC has been the topic of a number of recent research reports. Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a report on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC traded up $0.01 during trading hours on Friday, reaching $8.29. The company's stock had a trading volume of 25,453,195 shares, compared to its average volume of 18,647,381. The company's 50-day moving average is $7.98 and its 200-day moving average is $8.08. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.30 and a 52 week high of $8.90. The firm has a market cap of $27.63 billion, a PE ratio of -829,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) 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.