Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 50.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,542 shares of the communications equipment provider’s stock after selling 431,314 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ERIC. Empower Advisory Group LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.9% in the 3rd quarter. Empower Advisory Group LLC now owns 19,900 shares of the communications equipment provider’s stock worth $151,000 after acquiring an additional 3,844 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $100,000. Assetmark Inc. boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the 3rd quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock valued at $94,000 after purchasing an additional 11,708 shares in the last quarter. QRG Capital Management Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 174.3% during the 3rd quarter. QRG Capital Management Inc. now owns 516,387 shares of the communications equipment provider’s stock worth $3,914,000 after purchasing an additional 328,156 shares during the period. Finally, US Bancorp DE raised 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 worth $1,374,000 after buying an additional 146,141 shares in the last quarter. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $7.97 on Friday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The company’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $6.87. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of -265.67 and a beta of 0.81. 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 (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion during 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%. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

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.