Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 99.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,964 shares of the communications equipment provider's stock after buying an additional 180,546 shares during the period. Ritholtz Wealth Management's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,925,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ERIC. Bank of Montreal Can boosted 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 worth $83,788,000 after purchasing an additional 13,531,221 shares during the period. DigitalBridge Group Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider's stock valued at $30,961,000 after buying an additional 785,261 shares during the period. Hsbc Holdings PLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at approximately $17,940,000. FMR LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider's stock valued at $18,287,000 after buying an additional 463,415 shares during the period. Finally, Two Sigma Advisers LP boosted its position 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 valued at $15,402,000 after buying an additional 2,020,200 shares during the period. Hedge funds and other institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.9 %

NASDAQ:ERIC traded up $0.08 during midday trading on Friday, hitting $8.54. 12,190,840 shares of the company were exchanged, compared to its average volume of 11,874,762. The company has a fifty day simple moving average of $8.18 and a 200 day simple moving average of $7.63. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $28.46 billion, a PE ratio of -284.67 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ERIC has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research 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 report on Wednesday, October 16th.

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.