Blue Trust Inc. Acquires 30,283 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Blue Trust Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 182.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,907 shares of the communications equipment provider’s stock after buying an additional 30,283 shares during the period. Blue Trust Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $356,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of Montreal Can lifted 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 stake 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 valued at $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at about $17,940,000. Acadian Asset Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth about $11,869,000. Finally, Marshall Wace LLP grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the 2nd quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after buying an additional 535,933 shares during the period. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $8.42 on Thursday. The stock has a market cap of $28.06 billion, a price-to-earnings ratio of -8.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $8.62. The firm’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $6.52.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a report on Monday. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has a consensus rating of “Hold” and a consensus price target 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.