Drum Hill Capital LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 716,251 shares of the communications equipment provider's stock, valued at approximately $5,773,000. Telefonaktiebolaget LM Ericsson (publ) comprises approximately 7.2% of Drum Hill Capital LLC's investment portfolio, making the stock its 2nd biggest holding.
Other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $81,000. Assetmark Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider's stock valued at $94,000 after buying an additional 11,708 shares during the last quarter. Alliance Wealth Advisors LLC UT acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $94,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $100,000. Finally, Fulton Bank N.A. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $102,000. Hedge funds and other institutional investors own 7.99% of the company's stock.
Telefonaktiebolaget LM Ericsson (publ) Stock Performance
ERIC traded down $0.03 during trading on Wednesday, hitting $8.28. The stock had a trading volume of 17,613,904 shares, compared to its average volume of 16,782,781. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The firm has a market capitalization of $27.58 billion, a P/E ratio of -827,500.00, a PEG ratio of 3.89 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The company's 50-day moving average price is $8.03 and its 200 day moving average price is $7.90.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) 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, equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 24th.
Check Out Our Latest Stock Report on Telefonaktiebolaget LM Ericsson (publ)
Telefonaktiebolaget LM Ericsson (publ) Profile
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Free Report)
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.
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