Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,472,462 shares of the communications equipment provider’s stock after selling 165,265 shares during the period. Bank of America Corp DE’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $27,988,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ERIC. GeoWealth Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $77,000. Valeo Financial Advisors LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $81,000. Finally, Diametric Capital LP purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $85,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ERIC. Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 16th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.1%

ERIC opened at $8.47 on Friday. The firm has a market capitalization of $28.23 billion, a P/E ratio of -847,000.00, a P/E/G ratio of 3.89 and a beta of 0.96. The firm’s 50 day moving average is $7.97 and its 200-day moving average is $8.07. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.71 and a 52-week high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS 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.