Ericsson $ERIC Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in shares of Ericsson (NASDAQ:ERIC) by 60.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,645,672 shares of the communications equipment provider’s stock after acquiring an additional 620,144 shares during the period. BNP Paribas Financial Markets’ holdings in Ericsson were worth $15,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ERIC. AQR Capital Management LLC grew its holdings in Ericsson by 7.5% during the first quarter. AQR Capital Management LLC now owns 134,891 shares of the communications equipment provider’s stock worth $1,049,000 after acquiring an additional 9,362 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Ericsson during the first quarter worth about $126,000. Geode Capital Management LLC grew its holdings in Ericsson by 0.7% during the second quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider’s stock worth $2,123,000 after acquiring an additional 1,658 shares during the period. Marshall Wace LLP acquired a new stake in Ericsson during the second quarter worth about $2,735,000. Finally, Lazard Asset Management LLC boosted its position in Ericsson by 197.2% during the second quarter. Lazard Asset Management LLC now owns 1,242,381 shares of the communications equipment provider’s stock worth $10,534,000 after purchasing an additional 824,287 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

Ericsson Stock Performance

Shares of Ericsson stock opened at $12.56 on Friday. Ericsson has a one year low of $7.16 and a one year high of $13.77. The company has a market cap of $42.34 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 1.12. The business’s 50 day moving average price is $12.17 and its 200 day moving average price is $10.98.

Wall Street Analyst Weigh In

Several brokerages have commented on ERIC. Wall Street Zen lowered Ericsson from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup reissued a “neutral” rating on shares of Ericsson in a report on Tuesday, April 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Ericsson in a report on Tuesday. Finally, Morgan Stanley began coverage on Ericsson in a report on Monday, February 9th. They issued an “equal weight” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $11.00.

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.