Kovack Advisors Inc. Sells 150,618 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Kovack Advisors Inc. lessened its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 63.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 85,504 shares of the communications equipment provider’s stock after selling 150,618 shares during the quarter. Kovack Advisors Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $648,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the 1st quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after purchasing an additional 8,086 shares during the last quarter. QRG Capital Management Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock worth $1,161,000 after buying an additional 120,072 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after acquiring an additional 584,201 shares during the period. US Bancorp DE raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after acquiring an additional 146,141 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth approximately $1,545,000. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.1 %

Shares of ERIC opened at $7.99 on Thursday. The stock has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $6.85. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a market cap of $26.63 billion, a PE ratio of -266.33 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.75 and a 1 year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ERIC shares. 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 target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.