Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stake Reduced by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 65.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 24,876 shares of the communications equipment provider’s stock after selling 46,831 shares during the period. Truist Financial Corp’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ERIC. Mercer Global Advisors Inc. ADV grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 1,777 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock worth $388,000 after purchasing an additional 1,823 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after purchasing an additional 2,000 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after purchasing an additional 2,024 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 2,458 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ERIC has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research note on Monday, July 15th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.7 %

Shares of NASDAQ ERIC opened at $8.50 on Friday. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62. The company has a market cap of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $7.46 and a 200-day simple moving average of $6.45.

Telefonaktiebolaget LM Ericsson (publ) 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.