Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 67.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,082 shares of the communications equipment provider’s stock after selling 493,416 shares during the quarter. Federated Hermes Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during 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 buying an additional 4,351,420 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $11,869,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 164.6% during the second quarter. Oppenheimer & Co. Inc. now owns 862,856 shares of the communications equipment provider’s stock valued at $5,324,000 after acquiring an additional 536,807 shares during the period. BNP Paribas Financial Markets grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% during the first quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider’s stock worth $4,100,000 after acquiring an additional 692,804 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after acquiring an additional 584,201 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.57 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.65. The company has a market capitalization of $25.23 billion, a P/E ratio of -7.65 and a beta of 0.83. The business’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $6.14. 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 (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate 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%. As a group, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

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

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.