Checchi Capital Advisers LLC Has $200,000 Holdings in Telefonaktiebolaget LM Ericsson (ERIC)

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Checchi Capital Advisers LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 30.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,819 shares of the communications equipment provider’s stock after purchasing an additional 5,066 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Telefonaktiebolaget LM Ericsson were worth $200,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ERIC. Millennium Management LLC increased its holdings in Telefonaktiebolaget LM Ericsson by 1,367.0% during the 4th quarter. Millennium Management LLC now owns 5,566,488 shares of the communications equipment provider’s stock worth $49,375,000 after purchasing an additional 5,187,045 shares during the last quarter. Cavalry Management Group LLC purchased a new stake in Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $39,935,000. Tairen Capital Ltd purchased a new stake in Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $22,558,000. JPMorgan Chase & Co. increased its holdings in Telefonaktiebolaget LM Ericsson by 324.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock worth $26,617,000 after purchasing an additional 2,312,625 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Telefonaktiebolaget LM Ericsson by 284.9% during the 4th quarter. Deutsche Bank AG now owns 2,578,370 shares of the communications equipment provider’s stock worth $22,870,000 after purchasing an additional 1,908,410 shares during the last quarter. Institutional investors own 7.81% of the company’s stock.

ERIC has been the subject of several research reports. Credit Suisse Group upgraded Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “outperform” rating and set a $9.98 target price for the company in a research report on Friday. Bank of America upgraded Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating and set a $9.85 target price for the company in a research report on Wednesday, May 22nd. BidaskClub upgraded Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. ValuEngine lowered Telefonaktiebolaget LM Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 4th. Finally, Cowen reiterated a “hold” rating and issued a $10.00 target price on shares of Telefonaktiebolaget LM Ericsson in a research report on Sunday, April 21st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Telefonaktiebolaget LM Ericsson presently has an average rating of “Hold” and a consensus target price of $9.77.

Shares of ERIC opened at $10.03 on Monday. The company has a market capitalization of $33.44 billion, a PE ratio of 334.33 and a beta of 0.55. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.49. Telefonaktiebolaget LM Ericsson has a 52 week low of $7.16 and a 52 week high of $10.46.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Telefonaktiebolaget LM Ericsson had a positive return on equity of 3.79% and a negative net margin of 1.46%. The company had revenue of $48.90 billion during the quarter, compared to analyst estimates of $48.35 billion. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current year.

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About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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