Raymond James Financial Inc. Purchases Shares of 106,713 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Raymond James Financial Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 106,713 shares of the communications equipment provider's stock, valued at approximately $860,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock worth $40,000 after buying an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $77,000. Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $81,000. Diametric Capital LP bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $85,000. Finally, Endowment Wealth Management Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $91,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.1%

Shares of NASDAQ:ERIC traded up $0.01 during trading on Friday, hitting $8.29. The stock had a trading volume of 25,453,195 shares, compared to its average volume of 18,688,700. Telefonaktiebolaget LM Ericsson has a 12 month low of $5.30 and a 12 month high of $8.90. The company has a market capitalization of $27.63 billion, a PE ratio of -829,000.00, a PEG ratio of 3.89 and a beta of 0.96. The firm's fifty day moving average is $7.98 and its 200 day moving average is $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 posted 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. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. 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.