Ethic Inc. Raises Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Ethic Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,414 shares of the communications equipment provider's stock after buying an additional 106,980 shares during the period. Ethic Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GeoWealth Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $36,000. Smartleaf Asset Management LLC lifted its holdings in 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 during the period. SBI Securities Co. Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $77,000. Valeo Financial Advisors LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $81,000. Finally, Diametric Capital LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $85,000. Hedge funds and other institutional investors own 7.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ERIC. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on 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 Up 0.1%

Shares of ERIC traded up $0.01 during midday trading on Friday, hitting $8.47. 21,548,558 shares of the company's stock traded hands, compared to its average volume of 18,923,354. Telefonaktiebolaget LM Ericsson has a 1 year low of $5.71 and a 1 year high of $8.90. The firm's fifty day moving average is $7.97 and its 200-day moving average is $8.07. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of -847,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.96.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. As a group, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current 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.