Azzad Asset Management Inc. ADV Increases Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Azzad Asset Management Inc. ADV boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,227 shares of the communications equipment provider’s stock after purchasing an additional 10,935 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth about $36,000. Gateway Investment Advisers LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.8% in the first quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 32,117 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 2,268 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the first quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 2,609 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ERIC. JPMorgan Chase & Co. decreased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.0 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.06 during trading hours on Wednesday, hitting $6.26. The company’s stock had a trading volume of 4,564,076 shares, compared to its average volume of 16,134,262. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36. The firm has a fifty day moving average of $5.78 and a 200-day moving average of $5.67. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of -8.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.22.

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

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.