Commonwealth Equity Services LLC Sells 12,520 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Commonwealth Equity Services LLC reduced its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,409 shares of the communications equipment provider’s stock after selling 12,520 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at approximately $36,000. Lake Street Advisors Group LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $64,000. NBC Securities Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 7,744 shares during the period. Finally, Williams & Novak LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth $76,000. 7.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %

ERIC stock opened at $7.57 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $7.04 and a 200 day moving average of $6.15. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $7.65. The firm has a market cap of $25.23 billion, a PE ratio of -7.65 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. On average, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

About Telefonaktiebolaget LM Ericsson (publ)

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.