Balyasny Asset Management L.P. Invests $273,000 in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Balyasny Asset Management L.P. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 33,809 shares of the communications equipment provider's stock, valued at approximately $273,000.

A number of other institutional investors have also made changes to their positions in ERIC. Park Avenue Securities LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 54.9% during the 4th quarter. Park Avenue Securities LLC now owns 48,219 shares of the communications equipment provider's stock worth $389,000 after acquiring an additional 17,098 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.0% during the 4th quarter. Ritholtz Wealth Management now owns 362,964 shares of the communications equipment provider's stock worth $2,925,000 after acquiring an additional 180,546 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $107,000. Aaron Wealth Advisors LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider's stock worth $228,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $818,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ:ERIC traded up $0.19 during trading on Tuesday, reaching $8.77. 29,033,896 shares of the stock were exchanged, compared to its average volume of 18,997,063. Telefonaktiebolaget LM Ericsson has a 12 month low of $5.73 and a 12 month high of $8.90. The firm has a market cap of $29.23 billion, a PE ratio of -877,000.00, a PEG ratio of 3.89 and a beta of 0.96. The stock has a 50-day moving average price of $7.98 and a 200-day moving average price of $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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $55.83 billion. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ERIC shares. JPMorgan Chase & Co. boosted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a report on Friday, April 11th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th.

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.