Blue Trust Inc. Decreases Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Blue Trust Inc. decreased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 62.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,403 shares of the communications equipment provider’s stock after selling 29,504 shares during the quarter. Blue Trust Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $140,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Alliance Wealth Advisors LLC UT bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $94,000. Assetmark Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock worth $94,000 after purchasing an additional 11,708 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $102,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $100,000. Finally, Merit Financial Group LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $107,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.01 on Friday. The firm has a market capitalization of $26.69 billion, a P/E ratio of -801,000.00, a PEG ratio of 3.84 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $8.04 and a 200 day moving average price of $7.85. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

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.