Goldman Sachs Group Inc. Sells 582,095 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Goldman Sachs Group Inc. lowered its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,114,619 shares of the communications equipment provider’s stock after selling 582,095 shares during the period. Goldman Sachs Group Inc. owned approximately 0.09% of Telefonaktiebolaget LM Ericsson (publ) worth $19,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after acquiring an additional 819,083 shares in the last quarter. Natixis Advisors L.P. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 15.4% in the 4th quarter. Natixis Advisors L.P. now owns 89,110 shares of the communications equipment provider’s stock worth $561,000 after purchasing an additional 11,909 shares during the period. Sequoia Financial Advisors LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock worth $2,277,000 after purchasing an additional 290,949 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 198.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 40,141 shares of the communications equipment provider’s stock worth $253,000 after purchasing an additional 26,684 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after purchasing an additional 4,351,420 shares during the period. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.8 %

Shares of ERIC stock opened at $6.02 on Thursday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The firm has a fifty day moving average price of $5.68 and a 200-day moving average price of $5.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94. The company has a market cap of $20.06 billion, a price-to-earnings ratio of -8.60 and a beta of 0.82.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.33 billion. As a group, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ERIC. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. cut their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) 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.