International Assets Investment Management LLC Takes Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

International Assets Investment Management LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 16,296 shares of the communications equipment provider’s stock, valued at approximately $103,000.

Other institutional investors have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after acquiring an additional 3,201 shares during the period. First Affirmative Financial Network increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 22.0% during the 4th quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 4,351 shares during the period. Legacy Wealth Asset Management LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 12.6% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock valued at $601,000 after purchasing an additional 10,638 shares during the last quarter. 626 Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $72,000. Finally, Planned Solutions Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. dropped their target price 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 report on Friday, April 19th. Barclays lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has a consensus rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.6 %

NASDAQ:ERIC opened at $5.15 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94. The firm’s 50-day moving average price is $5.35 and its 200-day moving average price is $5.37. The company has a market capitalization of $17.15 billion, a PE ratio of -7.36 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) 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.