AlphaCore Capital LLC Acquires New Stake in Ericsson (NASDAQ:ERIC)

Key Points

• AlphaCore Capital LLC acquired 46,473 shares of Ericsson, totaling about $361,000, during the 1st quarter.
• JPMorgan Chase & Co. significantly increased its stake in Ericsson by 55.1%, now holding over 1.79 million shares worth approximately $14.5 million.
• Ericsson reported a net margin of 7.06% and exceeded analysts’ earnings expectations with $0.14 EPS for the quarter, despite a 6.2% revenue decline year-over-year.

AlphaCore Capital LLC bought a new stake in Ericsson (NASDAQ:ERIC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,473 shares of the communications equipment provider's stock, valued at approximately $361,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of Ericsson during the first quarter valued at approximately $27,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Ericsson during the first quarter valued at approximately $31,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Ericsson during the fourth quarter valued at approximately $35,000. GeoWealth Management LLC purchased a new stake in shares of Ericsson during the fourth quarter valued at approximately $36,000. Finally, Wallace Advisory Group LLC purchased a new stake in shares of Ericsson during the first quarter valued at approximately $90,000. Institutional investors own 7.99% of the company's stock.

Ericsson Stock Performance

NASDAQ:ERIC traded up $0.03 during trading hours on Wednesday, reaching $7.64. The stock had a trading volume of 5,748,565 shares, compared to its average volume of 21,443,766. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 1.09. The stock has a 50 day simple moving average of $7.97 and a 200 day simple moving average of $8.02. Ericsson has a 12-month low of $6.64 and a 12-month high of $8.99. The stock has a market cap of $25.58 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 11.96 and a beta of 0.85.

Ericsson (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $60.54 billion. During the same period last year, the company earned ($3.34) earnings per share. The business's revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts forecast that Ericsson will post 0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ERIC has been the subject of a number of recent research reports. Wall Street Zen raised Ericsson from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Kepler Capital Markets raised Ericsson from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th.

Ericsson 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.