PNC Financial Services Group Inc. Has $354,000 Holdings in Telefonaktiebolaget LM Ericsson (ERIC)

PNC Financial Services Group Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 37.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,269 shares of the communications equipment provider’s stock after acquiring an additional 15,033 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Telefonaktiebolaget LM Ericsson were worth $354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Telefonaktiebolaget LM Ericsson by 42,991.8% during the 1st quarter. JPMorgan Chase & Co. now owns 501,158 shares of the communications equipment provider’s stock valued at $3,208,000 after acquiring an additional 499,995 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Telefonaktiebolaget LM Ericsson by 4.2% during the 1st quarter. Natixis Advisors L.P. now owns 212,801 shares of the communications equipment provider’s stock valued at $1,362,000 after acquiring an additional 8,644 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Telefonaktiebolaget LM Ericsson by 1.2% during the 1st quarter. Artisan Partners Limited Partnership now owns 13,609,614 shares of the communications equipment provider’s stock valued at $87,102,000 after acquiring an additional 156,540 shares during the last quarter. Northern Trust Corp boosted its position in shares of Telefonaktiebolaget LM Ericsson by 1.0% during the 1st quarter. Northern Trust Corp now owns 2,745,018 shares of the communications equipment provider’s stock valued at $17,568,000 after acquiring an additional 27,268 shares during the last quarter. Finally, Aperio Group LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson by 7.1% during the 1st quarter. Aperio Group LLC now owns 879,911 shares of the communications equipment provider’s stock valued at $5,631,000 after acquiring an additional 58,409 shares during the last quarter. Hedge funds and other institutional investors own 8.72% of the company’s stock.

A number of analysts have recently issued reports on ERIC shares. Charter Equity upgraded Telefonaktiebolaget LM Ericsson from a “market perform” rating to a “buy” rating in a research report on Monday, April 23rd. ValuEngine upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Saturday, April 21st. BMO Capital Markets reiterated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, April 20th. Berenberg Bank started coverage on Telefonaktiebolaget LM Ericsson in a research report on Wednesday, April 11th. They set a “hold” rating for the company. Finally, Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.91.

NASDAQ:ERIC opened at $7.64 on Tuesday. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.52 and a 1-year high of $8.05. The company has a quick ratio of 1.18, a current ratio of 1.46 and a debt-to-equity ratio of 0.33.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings results on Friday, April 20th. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. The company had revenue of $43.40 billion during the quarter, compared to the consensus estimate of $43.59 billion. Telefonaktiebolaget LM Ericsson had a negative return on equity of 4.58% and a negative net margin of 12.75%. Telefonaktiebolaget LM Ericsson’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.42) EPS. equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.17 EPS for the current year.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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