Legacy Wealth Asset Management LLC Sells 2,260 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Legacy Wealth Asset Management LLC trimmed its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,591 shares of the communications equipment provider’s stock after selling 2,260 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $867,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares during the last quarter. Vest Financial LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $77,000. Choreo LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $78,000. GAMMA Investing LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after buying an additional 5,070 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $81,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ERIC. StockNews.com upgraded 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 price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.9 %

ERIC opened at $8.46 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62. The firm has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $7.61. The stock has a market capitalization of $28.19 billion, a PE ratio of -282.00 and a beta of 0.79. 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 issued its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.43 earnings per share for the current fiscal year.

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.