Atlas Capital Advisors Inc. Invests $429,000 in Ericsson $ERIC

Atlas Capital Advisors Inc. purchased a new position in shares of Ericsson (NASDAQ:ERIC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,450 shares of the communications equipment provider’s stock, valued at approximately $429,000.

A number of other large investors have also modified their holdings of ERIC. ABC Arbitrage SA grew its stake in shares of Ericsson by 36.7% during the fourth quarter. ABC Arbitrage SA now owns 4,389,009 shares of the communications equipment provider’s stock worth $42,354,000 after acquiring an additional 1,179,194 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ericsson by 42.9% during the second quarter. BNP Paribas Financial Markets now owns 3,350,029 shares of the communications equipment provider’s stock worth $28,408,000 after acquiring an additional 1,005,398 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Ericsson by 229.3% during the fourth quarter. Van ECK Associates Corp now owns 1,252,437 shares of the communications equipment provider’s stock worth $12,086,000 after acquiring an additional 872,065 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of 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 acquiring an additional 824,287 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Ericsson by 234.2% during the third quarter. Marshall Wace LLP now owns 1,078,145 shares of the communications equipment provider’s stock worth $8,916,000 after acquiring an additional 755,587 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Ericsson Trading Down 0.5%

Shares of NASDAQ:ERIC opened at $12.22 on Tuesday. Ericsson has a 12-month low of $7.16 and a 12-month high of $13.77. The company has a market capitalization of $41.19 billion, a PE ratio of 15.47, a PEG ratio of 2.10 and a beta of 0.90. The business has a 50 day moving average of $12.26 and a two-hundred day moving average of $11.10. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.21.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Ericsson in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ericsson in a research report on Tuesday, June 2nd. Finally, Wall Street Zen lowered Ericsson from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target 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.