CWA Asset Management Group LLC Invests $2.30 Million in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

CWA Asset Management Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 285,146 shares of the communications equipment provider's stock, valued at approximately $2,298,000.

Several other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider's stock valued at $83,788,000 after acquiring an additional 13,531,221 shares during the period. DigitalBridge Group Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider's stock worth $30,961,000 after buying an additional 785,261 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $17,940,000. FMR LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider's stock worth $18,287,000 after acquiring an additional 463,415 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider's stock worth $15,402,000 after acquiring an additional 2,020,200 shares during the last quarter. Institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.02 on Tuesday, reaching $8.17. The stock had a trading volume of 17,365,029 shares, compared to its average volume of 15,672,557. The business's 50 day moving average is $8.19 and its two-hundred day moving average is $7.51. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The company has a market cap of $27.23 billion, a P/E ratio of -272.33 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. As a group, research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a report on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.70.

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.