QRG Capital Management Inc. Has $3.91 Million Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

QRG Capital Management Inc. raised its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 174.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,387 shares of the communications equipment provider’s stock after purchasing an additional 328,156 shares during the quarter. QRG Capital Management Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,914,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ERIC. Bank of Montreal Can boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after purchasing an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after buying an additional 785,261 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $17,940,000. Acadian Asset Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $11,869,000. Finally, Marshall Wace LLP increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after acquiring an additional 535,933 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 2.0 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.18 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a 50-day simple moving average of $7.79 and a 200 day simple moving average of $6.76. The stock has a market capitalization of $27.26 billion, a P/E ratio of -272.67 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.54 and a 52 week high of $8.62.

Analysts Set New Price Targets

Several research analysts recently commented on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.70.

About Telefonaktiebolaget LM Ericsson (publ)

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.