Raymond James Financial Inc. Takes $860,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Raymond James Financial Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 106,713 shares of the communications equipment provider's stock, valued at approximately $860,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider's stock worth $109,673,000 after acquiring an additional 10,891,451 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 196.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,177,361 shares of the communications equipment provider's stock worth $9,490,000 after purchasing an additional 779,639 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 105.2% in the 4th quarter. Wells Fargo & Company MN now owns 190,055 shares of the communications equipment provider's stock worth $1,532,000 after buying an additional 97,434 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 16.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 26,246 shares of the communications equipment provider's stock valued at $212,000 after buying an additional 3,802 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $8,746,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ERIC shares. JPMorgan Chase & Co. raised their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a report on Friday, April 11th. StockNews.com 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 shares of 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 up $0.01 during midday trading on Friday, reaching $8.29. 25,453,195 shares of the company's stock traded hands, compared to its average volume of 18,597,298. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. Telefonaktiebolaget LM Ericsson has a one year low of $5.28 and a one year high of $8.90. The company has a market cap of $27.63 billion, a price-to-earnings ratio of -829,000.00, a P/E/G ratio of 3.89 and a beta of 0.96. The stock has a 50 day moving average of $7.98 and a 200 day moving average of $8.08.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) 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.