CWA Asset Management Group LLC Increases Position in Ericsson (NASDAQ:ERIC)

CWA Asset Management Group LLC boosted its position in Ericsson (NASDAQ:ERIC - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,710 shares of the communications equipment provider's stock after purchasing an additional 88,564 shares during the period. CWA Asset Management Group LLC's holdings in Ericsson were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in shares of Ericsson during the fourth quarter valued at approximately $35,000. GeoWealth Management LLC bought a new stake in shares of Ericsson during the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC raised its stake in shares of Ericsson by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after acquiring an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Ericsson during the fourth quarter valued at approximately $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Ericsson during the fourth quarter valued at approximately $81,000. Institutional investors own 7.99% of the company's stock.

Ericsson Stock Down 0.4%

NASDAQ:ERIC traded down $0.03 during trading hours on Friday, reaching $8.30. The company's stock had a trading volume of 11,207,074 shares, compared to its average volume of 19,486,808. The company has a market capitalization of $27.79 billion, a P/E ratio of 166.00, a price-to-earnings-growth ratio of 5.86 and a beta of 0.94. Ericsson has a 12 month low of $6.00 and a 12 month high of $9.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.09. The stock has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $8.13.

Ericsson (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. Ericsson had a net margin of 0.67% and a return on equity of 16.45%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $55.83 billion. Equities analysts predict that Ericsson will post 0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Ericsson from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Kepler Capital Markets raised shares of Ericsson from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ericsson from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday, April 11th.

Ericsson 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.