Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Shares Purchased by United Capital Financial Advisers LLC

United Capital Financial Advisers LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 807,127 shares of the communications equipment provider’s stock after purchasing an additional 29,495 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Telefonaktiebolaget LM Ericsson were worth $7,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Telefonaktiebolaget LM Ericsson by 124.1% in the first quarter. FMR LLC now owns 11,266,731 shares of the communications equipment provider’s stock valued at $103,429,000 after acquiring an additional 6,239,848 shares during the period. Renaissance Technologies LLC lifted its holdings in Telefonaktiebolaget LM Ericsson by 10.7% in the second quarter. Renaissance Technologies LLC now owns 23,362,900 shares of the communications equipment provider’s stock valued at $221,948,000 after acquiring an additional 2,259,100 shares during the period. Allianz Asset Management GmbH acquired a new position in Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $5,277,000. JPMorgan Chase & Co. lifted its holdings in Telefonaktiebolaget LM Ericsson by 136.5% in the second quarter. JPMorgan Chase & Co. now owns 776,244 shares of the communications equipment provider’s stock valued at $7,444,000 after acquiring an additional 447,981 shares during the period. Finally, FIL Ltd acquired a new position in Telefonaktiebolaget LM Ericsson in the first quarter valued at approximately $2,328,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

ERIC has been the subject of a number of analyst reports. BidaskClub downgraded Telefonaktiebolaget LM Ericsson from a “sell” rating to a “strong sell” rating in a report on Saturday, August 31st. Credit Suisse Group upgraded Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “outperform” rating and set a $9.98 price objective for the company in a research report on Friday, May 24th. Santander cut Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Bank of America upgraded Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating and set a $9.85 price objective for the company in a research report on Wednesday, May 22nd. Finally, Cowen restated a “hold” rating and issued a $9.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.89.

Shares of ERIC traded down $0.09 during trading hours on Friday, hitting $8.03. 3,286,671 shares of the stock were exchanged, compared to its average volume of 6,399,199. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.42. Telefonaktiebolaget LM Ericsson has a 12-month low of $7.58 and a 12-month high of $10.46. The company has a market cap of $26.84 billion, a price-to-earnings ratio of 267.67 and a beta of 0.53. The stock’s 50-day moving average price is $8.32 and its two-hundred day moving average price is $9.24.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Wednesday, July 17th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Telefonaktiebolaget LM Ericsson had a return on equity of 6.37% and a net margin of 0.16%. The firm had revenue of $54.80 billion for the quarter, compared to analysts’ expectations of $53.25 billion. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.36 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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