Atlas Capital Advisors Inc. Invests $429,000 in Ericsson $ERIC

Atlas Capital Advisors Inc. bought a new position in shares of Ericsson (NASDAQ:ERIC) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 44,450 shares of the communications equipment provider’s stock, valued at approximately $429,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its stake in Ericsson by 33.9% in the 4th quarter. Neuberger Berman Group LLC now owns 43,232 shares of the communications equipment provider’s stock valued at $417,000 after purchasing an additional 10,955 shares during the last quarter. Van ECK Associates Corp raised its stake in Ericsson by 229.3% in the 4th quarter. Van ECK Associates Corp now owns 1,252,437 shares of the communications equipment provider’s stock valued at $12,086,000 after purchasing an additional 872,065 shares during the last quarter. Brooklyn Investment Group raised its stake in Ericsson by 98.4% in the 4th quarter. Brooklyn Investment Group now owns 91,471 shares of the communications equipment provider’s stock valued at $886,000 after purchasing an additional 45,359 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Ericsson by 7.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 42,902 shares of the communications equipment provider’s stock valued at $414,000 after purchasing an additional 2,869 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Ericsson by 60.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,645,672 shares of the communications equipment provider’s stock valued at $15,881,000 after purchasing an additional 620,144 shares during the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ERIC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Ericsson in a research note on Tuesday, June 2nd. Wall Street Zen downgraded Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Citigroup reissued a “neutral” rating on shares of Ericsson in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $11.00.

Ericsson Stock Down 0.5%

Shares of ERIC opened at $12.22 on Tuesday. Ericsson has a 52-week low of $7.16 and a 52-week high of $13.77. The company has a market capitalization of $41.19 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.90. The stock has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $11.10. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.21.

Ericsson Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.