Gateway Investment Advisers LLC Has $4.58 Million Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Gateway Investment Advisers LLC reduced its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 30.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 590,725 shares of the communications equipment provider's stock after selling 260,470 shares during the quarter. Gateway Investment Advisers LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $4,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Minot DeBlois Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $35,000. GeoWealth Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after buying an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $77,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $81,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Wall Street Zen raised shares of 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 research note on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC traded down $0.03 during mid-day trading on Wednesday, reaching $8.45. 11,171,556 shares of the company were exchanged, compared to its average volume of 19,350,908. The stock has a market capitalization of $28.14 billion, a P/E ratio of -844,500.00, a P/E/G ratio of 3.89 and a beta of 0.94. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company's 50-day simple moving average is $8.17 and its 200-day simple moving average is $8.12. Telefonaktiebolaget LM Ericsson has a twelve month low of $5.76 and a twelve month high of $9.00.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. As a group, research analysts predict 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.