Koss Olinger Consulting LLC Makes New $1.22 Million Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Koss Olinger Consulting LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 197,908 shares of the communications equipment provider’s stock, valued at approximately $1,221,000.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% in 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. Oppenheimer & Co. Inc. increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after buying an additional 819,083 shares in the last quarter. First Affirmative Financial Network increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 2,268 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after acquiring an additional 120,072 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after acquiring an additional 584,201 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 2.0 %

Shares of ERIC stock opened at $7.22 on Friday. The company’s fifty day simple moving average is $6.83 and its two-hundred day simple moving average is $6.01. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $7.48. The stock has a market cap of $24.06 billion, a P/E ratio of -7.29 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Analysts predict that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.90.

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.