Kathmere Capital Management LLC Takes $227,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Kathmere Capital Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,124 shares of the communications equipment provider’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently added to or reduced their stakes in ERIC. Bank of Montreal Can lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after buying an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after acquiring an additional 785,261 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $17,940,000. FMR LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after acquiring an additional 463,415 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ERIC. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $8.46 on Friday. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of -282.00 and a beta of 0.79. The business has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $7.61.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. On average, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.43 EPS for the current year.

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.