Legacy Wealth Asset Management LLC Increases Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Legacy Wealth Asset Management LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,859 shares of the communications equipment provider’s stock after acquiring an additional 4,482 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Affirmative Financial Network increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 22.0% in the 4th quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock worth $152,000 after buying an additional 4,351 shares in the last quarter. 626 Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $72,000. Planned Solutions Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $38,000. Ritholtz Wealth Management grew its position in Telefonaktiebolaget LM Ericsson (publ) by 9.9% in the 4th quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock worth $870,000 after purchasing an additional 12,391 shares during the period. Finally, Caprock Group LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 32.0% during the fourth quarter. Caprock Group LLC now owns 56,252 shares of the communications equipment provider’s stock valued at $354,000 after acquiring an additional 13,638 shares during the last quarter. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC opened at $6.19 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The firm has a fifty day moving average price of $5.81 and a 200-day moving average price of $5.68. The stock has a market cap of $20.63 billion, a PE ratio of -8.84 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.58.

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.