DRW Securities LLC Lowers Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

DRW Securities LLC cut its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 76.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,837 shares of the communications equipment provider’s stock after selling 37,913 shares during the quarter. DRW Securities LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ERIC. QRG Capital Management Inc. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock worth $1,161,000 after acquiring an additional 120,072 shares during the last quarter. Gateway Investment Advisers LLC boosted 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 valued at $3,890,000 after purchasing an additional 584,201 shares during the last quarter. US Bancorp DE grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% during the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after buying an additional 146,141 shares during the period. Diversified Trust Co acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth $1,545,000. Finally, Blue Trust Inc. raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 244.0% in the 2nd quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 11,791 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.2 %

Shares of NASDAQ ERIC opened at $8.18 on Thursday. The stock has a fifty day moving average price of $8.02 and a 200 day moving average price of $7.06. The company has a market cap of $27.26 billion, a P/E ratio of -272.67 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

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

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Company 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.