Northwestern Mutual Wealth Management Co. Sells 9,226 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Northwestern Mutual Wealth Management Co. reduced its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,111 shares of the communications equipment provider’s stock after selling 9,226 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of 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 during the period. First Affirmative Financial Network raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 2,268 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the 2nd quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock worth $1,161,000 after buying an additional 120,072 shares during the period. Gateway Investment Advisers LLC lifted 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 valued at $3,890,000 after acquiring an additional 584,201 shares during the period. Finally, Blue Trust Inc. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the second quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider’s stock worth $103,000 after acquiring an additional 11,791 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $7.41 on Friday. The firm has a market capitalization of $24.70 billion, a P/E ratio of -7.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $7.83. The business has a fifty day moving average of $7.23 and a 200 day moving average of $6.28.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. As a group, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

ERIC has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on 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. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.90.

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.