Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Position Raised by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 234.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,744,940 shares of the communications equipment provider's stock after acquiring an additional 4,729,207 shares during the quarter. Millennium Management LLC owned about 0.20% of Telefonaktiebolaget LM Ericsson (publ) worth $54,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $227,000. Park Avenue Securities LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 54.9% in the 4th quarter. Park Avenue Securities LLC now owns 48,219 shares of the communications equipment provider's stock worth $389,000 after acquiring an additional 17,098 shares during the period. Ritholtz Wealth Management grew its position in Telefonaktiebolaget LM Ericsson (publ) by 99.0% in the fourth quarter. Ritholtz Wealth Management now owns 362,964 shares of the communications equipment provider's stock valued at $2,925,000 after acquiring an additional 180,546 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $107,000. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider's stock valued at $228,000 after purchasing an additional 2,172 shares during the period. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock traded up $0.09 during trading on Wednesday, hitting $8.86. 39,293,150 shares of the company's stock traded hands, compared to its average volume of 19,077,916. The stock has a market capitalization of $29.53 billion, a price-to-earnings ratio of -886,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.96. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.73 and a 52 week high of $8.99. The stock has a fifty day moving average price of $8.00 and a two-hundred day moving average price of $8.08. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate 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, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their target price on 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.

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.