Stifel Financial Corp Sells 11,984 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Stifel Financial Corp trimmed its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,607 shares of the communications equipment provider’s stock after selling 11,984 shares during the quarter. Stifel Financial Corp’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOKF NA bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth approximately $41,000. Hexagon Capital Partners LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 2,458 shares during the period. Vest Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth $77,000. Finally, Choreo LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $78,000. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 2.7 %

ERIC stock opened at $7.99 on Thursday. The firm has a market cap of $26.63 billion, a PE ratio of -266.33 and a beta of 0.79. The firm has a fifty day moving average price of $8.23 and a 200 day moving average price of $7.32. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus target price of $6.70.

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.