Empower Advisory Group LLC Has $151,000 Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Empower Advisory Group LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 23.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,900 shares of the communications equipment provider’s stock after buying an additional 3,844 shares during the period. Empower Advisory Group LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth $36,000. O Shaughnessy Asset Management LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 334,701 shares of the communications equipment provider’s stock worth $1,844,000 after purchasing an additional 56,532 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after purchasing an additional 8,086 shares during the period. Earnest Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 26.9% during the first quarter. Earnest Partners LLC now owns 378,928 shares of the communications equipment provider’s stock worth $2,088,000 after purchasing an additional 80,273 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 102.3% during the first quarter. Tidal Investments LLC now owns 23,439 shares of the communications equipment provider’s stock worth $129,000 after purchasing an additional 11,850 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ERIC shares. JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.4 %

NASDAQ:ERIC opened at $7.97 on Friday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of -265.00 and a beta of 0.81. The stock has a 50-day moving average price of $7.88 and a two-hundred day moving average price of $6.87.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share 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.