TD Waterhouse Canada Inc. Sells 10,940 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

TD Waterhouse Canada Inc. trimmed its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,953 shares of the communications equipment provider’s stock after selling 10,940 shares during the period. TD Waterhouse Canada Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the 4th quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock worth $109,673,000 after acquiring an additional 10,891,451 shares during the last quarter. National Bank of Canada FI bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $23,440,000. Sei Investments Co. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after purchasing an additional 1,705,246 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $8,746,000. Finally, US Bancorp DE lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock worth $7,806,000 after buying an additional 787,154 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ERIC shares. JPMorgan Chase & Co. increased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th. Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

NASDAQ:ERIC opened at $8.19 on Monday. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.00 and a 52 week high of $8.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The firm’s 50-day simple moving average is $7.95 and its 200 day simple moving average is $8.07. The firm has a market cap of $27.29 billion, a price-to-earnings ratio of -819,000.00, a P/E/G ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. As a group, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

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.