GenTrust LLC purchased a new position in shares of Ericsson (NASDAQ:ERIC) during the second quarter, Holdings Channel reports. The fund purchased 16,671 shares of the communications equipment provider’s stock, valued at approximately $120,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boyd Watterson Asset Management LLC OH boosted its position in shares of Ericsson by 1.0% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock worth $130,000 after buying an additional 174 shares during the period. Greenleaf Trust boosted its position in shares of Ericsson by 2.6% in the second quarter. Greenleaf Trust now owns 31,146 shares of the communications equipment provider’s stock worth $223,000 after buying an additional 797 shares during the period. OLD National Bancorp IN boosted its position in shares of Ericsson by 8.1% in the first quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,181 shares during the period. Stephens Inc. AR boosted its position in shares of Ericsson by 5.0% in the first quarter. Stephens Inc. AR now owns 25,964 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 1,227 shares during the period. Finally, Ronald Blue & Co. LLC boosted its position in shares of Ericsson by 7.0% in the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock worth $141,000 after buying an additional 1,283 shares during the period. 8.13% of the stock is owned by institutional investors.

Shares of Ericsson (ERIC) opened at 6.11 on Thursday. The stock has a 50 day moving average of $6.77 and a 200-day moving average of $6.57. The company’s market capitalization is $20.02 billion. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.55.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. On average, analysts anticipate that Ericsson will post $0.23 EPS for the current year.

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A number of brokerages recently issued reports on ERIC. Canaccord Genuity reissued a “neutral – hold” rating and set a $7.00 price target on shares of Ericsson in a research report on Friday, June 30th. Societe Generale began coverage on shares of Ericsson in a research report on Wednesday, June 14th. They set a “hold” rating for the company. Credit Suisse Group raised shares of Ericsson from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 12th. Zacks Investment Research raised shares of Ericsson from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Ericsson in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ericsson currently has a consensus rating of “Hold” and a consensus price target of $5.95.

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

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Institutional Ownership by Quarter for Ericsson (NASDAQ:ERIC)

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