Natixis Advisors LLC raised its stake in Ericsson (NASDAQ:ERIC - Free Report) by 14.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 847,463 shares of the communications equipment provider's stock after purchasing an additional 104,460 shares during the period. Natixis Advisors LLC's holdings in Ericsson were worth $6,576,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Ericsson by 55.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock valued at $14,475,000 after purchasing an additional 638,393 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ericsson by 7.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider's stock valued at $196,000 after purchasing an additional 1,713 shares during the last quarter. Northern Trust Corp increased its stake in Ericsson by 41.4% in the fourth quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider's stock valued at $14,277,000 after purchasing an additional 519,029 shares during the last quarter. Cetera Investment Advisers increased its stake in Ericsson by 157.8% in the fourth quarter. Cetera Investment Advisers now owns 93,134 shares of the communications equipment provider's stock valued at $751,000 after purchasing an additional 57,003 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Ericsson in the fourth quarter valued at approximately $105,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.
Ericsson Stock Performance
Shares of ERIC opened at $7.39 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24.74 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 11.80 and a beta of 0.85. The company's 50 day simple moving average is $8.10 and its 200-day simple moving average is $8.06. Ericsson has a 12-month low of $6.41 and a 12-month high of $8.99.
Ericsson (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Ericsson had a net margin of 7.06% and a return on equity of 21.17%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $60.54 billion. During the same period last year, the firm posted ($3.34) earnings per share. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Ericsson will post 0.48 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ERIC. Wall Street Zen upgraded shares of Ericsson from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Kepler Capital Markets upgraded shares of Ericsson from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ericsson from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday, April 11th.
Check Out Our Latest Stock Analysis on ERIC
About Ericsson
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ERIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ericsson (NASDAQ:ERIC - Free Report).
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