First Affirmative Financial Network Trims Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

First Affirmative Financial Network cut its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,453 shares of the communications equipment provider’s stock after selling 1,729 shares during the period. First Affirmative Financial Network’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $35,000. GeoWealth Management LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $77,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $81,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.2%

NASDAQ ERIC opened at $8.53 on Friday. The stock has a market capitalization of $28.43 billion, a P/E ratio of -853,000.00, a P/E/G ratio of 3.89 and a beta of 0.94. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.76 and a 52-week high of $9.00. The firm has a 50-day moving average price of $8.13 and a 200 day moving average price of $8.12. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The firm had revenue of $5.68 billion during 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%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ERIC shares. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price 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. Finally, Wall Street Zen raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th.

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.