Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 431,542 shares of the communications equipment provider’s stock after selling 431,314 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,271,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock valued at $1,047,000 after buying an additional 8,086 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the 2nd quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after acquiring an additional 120,072 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after purchasing an additional 584,201 shares during the period. US Bancorp DE increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 146,141 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $1,545,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.4 %

Shares of NASDAQ ERIC opened at $7.97 on Friday. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of -265.67 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. 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’s 50-day simple moving average is $7.88 and its 200-day simple moving average is $6.87.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ERIC shares. JPMorgan Chase & Co. raised their target price 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. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Company 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.