Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co decreased its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 13.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,350 shares of the communications equipment provider’s stock after selling 13,000 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at $36,000. BOKF NA purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $41,000. Hexagon Capital Partners LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the period. Finally, Williams & Novak LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $76,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock traded up $0.07 during trading on Thursday, hitting $8.49. The stock had a trading volume of 1,564,987 shares, compared to its average volume of 16,597,693. The stock has a market capitalization of $28.29 billion, a P/E ratio of -8.51 and a beta of 0.83. The company’s 50-day moving average price is $7.56 and its two-hundred day moving average price is $6.52. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90.

Analyst Upgrades and Downgrades

A number of research firms have 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. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.