Alliance Wealth Advisors LLC UT Buys Shares of 11,661 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Alliance Wealth Advisors LLC UT bought a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the fourth quarter, Holdings Channel.com reports. The firm bought 11,661 shares of the communications equipment provider’s stock, valued at approximately $94,000.

A number of other hedge funds have also recently added to or reduced their stakes in ERIC. Hexagon Capital Partners LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares during the period. Vest Financial LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth $77,000. GAMMA Investing LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after purchasing an additional 5,070 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $81,000. Finally, Assetmark Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% during the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock worth $94,000 after purchasing an additional 11,708 shares during the period. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $7.52 on Wednesday. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The firm has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $7.77. The company has a market capitalization of $25.06 billion, a PE ratio of -752,000.00, a P/E/G ratio of 3.64 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. On average, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ERIC shares. JPMorgan Chase & Co. lifted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

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.