Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 105.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 190,055 shares of the communications equipment provider's stock after purchasing an additional 97,434 shares during the period. Wells Fargo & Company MN's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,532,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth $601,000. Sanctuary Advisors LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider's stock valued at $193,000 after purchasing an additional 10,530 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 11.1% during the 3rd quarter. Tidal Investments LLC now owns 30,197 shares of the communications equipment provider's stock valued at $229,000 after buying an additional 3,026 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 33.7% in the 4th quarter. GAMMA Investing LLC now owns 14,082 shares of the communications equipment provider's stock worth $114,000 after purchasing an additional 3,548 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $2,298,000. Institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.9 %

NASDAQ:ERIC traded up $0.16 during trading hours on Friday, hitting $8.39. The company had a trading volume of 6,657,668 shares, compared to its average volume of 18,311,867. Telefonaktiebolaget LM Ericsson has a 1 year low of $5.07 and a 1 year high of $8.90. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $7.97 and a 200 day moving average of $8.09. The company has a market cap of $27.96 billion, a P/E ratio of -838,500.00, a P/E/G ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $55.83 billion. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th.

About Telefonaktiebolaget LM Ericsson (publ)

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.