Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 63.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,504 shares of the communications equipment provider’s stock after selling 150,618 shares during the period. Kovack Advisors Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $648,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bank of Montreal Can increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after acquiring an additional 13,531,221 shares in the last quarter. DigitalBridge Group Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $17,940,000. Acadian Asset Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $11,869,000. Finally, Marshall Wace LLP lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after purchasing an additional 535,933 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $7.99 on Thursday. The firm has a market cap of $26.63 billion, a P/E ratio of -266.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.75 and a fifty-two week high of $8.62. The stock’s 50-day moving average is $7.86 and its two-hundred day moving average is $6.85.

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

Wall Street Analysts Forecast Growth

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

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.