Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC cut its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 96,014 shares of the communications equipment provider’s stock after selling 4,800 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of 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 valued at $34,000 after buying an additional 3,101 shares during the period. Hexagon Capital Partners LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at about $36,000. BOKF NA purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $41,000. Finally, Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $77,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ERIC has been the subject of a number of research reports. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a 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 stock a “neutral” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.7 %

Shares of NASDAQ:ERIC opened at $8.44 on Monday. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $8.62. The firm’s 50 day moving average price is $7.62 and its 200 day moving average price is $6.58. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of -8.53 and a beta of 0.83.

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.