Ericsson (NASDAQ:ERIC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Ericsson (NASDAQ:ERIC - Free Report) by 665.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,848 shares of the communications equipment provider's stock after purchasing an additional 93,766 shares during the quarter. GAMMA Investing LLC's holdings in Ericsson were worth $837,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in shares of Ericsson by 275.3% during the fourth quarter. Global Retirement Partners LLC now owns 48,892 shares of the communications equipment provider's stock worth $394,000 after purchasing an additional 35,863 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ericsson by 55.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock worth $14,475,000 after buying an additional 638,393 shares during the last quarter. Atria Investments Inc boosted its stake in Ericsson by 370.6% during the fourth quarter. Atria Investments Inc now owns 50,651 shares of the communications equipment provider's stock worth $408,000 after buying an additional 39,889 shares during the last quarter. Northern Trust Corp boosted its stake in Ericsson by 41.4% during the fourth quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider's stock worth $14,277,000 after buying an additional 519,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ericsson by 15.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 252,164 shares of the communications equipment provider's stock worth $2,032,000 after buying an additional 32,982 shares during the last quarter. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ericsson Trading Down 0.4%

Shares of Ericsson stock traded down $0.03 during trading hours on Friday, hitting $8.30. The company's stock had a trading volume of 11,207,074 shares, compared to its average volume of 19,486,808. Ericsson has a twelve month low of $6.00 and a twelve month high of $9.00. The firm has a fifty day moving average of $8.38 and a 200-day moving average of $8.13. The stock has a market cap of $27.79 billion, a price-to-earnings ratio of 166.00, a P/E/G ratio of 5.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.09.

Ericsson (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Ericsson had a return on equity of 16.45% and a net margin of 0.67%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $55.83 billion. Research analysts forecast that Ericsson will post 0.48 EPS for the current year.

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.