Verition Fund Management LLC Acquires 73,320 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Verition Fund Management LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,142,228 shares of the communications equipment provider's stock after acquiring an additional 73,320 shares during the quarter. Verition Fund Management LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $8,658,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 1,777 shares in the last quarter. Profund Advisors LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider's stock worth $388,000 after acquiring an additional 1,823 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 5.7% in the third quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider's stock valued at $264,000 after buying an additional 1,866 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock valued at $87,000 after acquiring an additional 2,024 shares in the last quarter. Finally, Pitcairn Co. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider's stock valued at $135,000 after acquiring an additional 2,279 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERIC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased 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 research note 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 report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.0 %

ERIC stock traded up $0.08 during trading hours on Monday, hitting $8.22. The company's stock had a trading volume of 14,471,682 shares, compared to its average volume of 16,865,121. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The stock has a 50 day moving average price of $8.05 and a two-hundred day moving average price of $7.11. The company has a market capitalization of $27.39 billion, a PE ratio of -274.00 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating 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 analysts' expectations of $5.73 billion. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

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.