Drum Hill Capital LLC Acquires New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Drum Hill Capital LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 716,251 shares of the communications equipment provider’s stock, valued at approximately $5,773,000. Telefonaktiebolaget LM Ericsson (publ) comprises about 7.2% of Drum Hill Capital LLC’s investment portfolio, making the stock its 2nd largest position.

A number of other large investors have also made changes to their positions in ERIC. Diversified Trust Co increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 68.7% in the 4th quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock worth $2,772,000 after purchasing an additional 140,116 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock valued at $193,000 after purchasing an additional 10,530 shares during the period. BNP Paribas Financial Markets increased its position in Telefonaktiebolaget LM Ericsson (publ) by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after buying an additional 239,651 shares in the last quarter. US Bancorp DE increased its position in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after buying an additional 146,141 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $3,032,000. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.2 %

Shares of ERIC stock opened at $7.91 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. The company’s fifty day moving average price is $8.03 and its 200-day moving average price is $7.86. The company has a market capitalization of $26.36 billion, a price-to-earnings ratio of -791,000.00, a PEG ratio of 3.82 and a beta of 0.77.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 24th.

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.