Kovack Advisors Inc. Lowers Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Kovack Advisors Inc. lowered its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 63.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 85,504 shares of the communications equipment provider's stock after selling 150,618 shares during the quarter. Kovack Advisors Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $648,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Parametrica Management Ltd acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at $173,000. Empower Advisory Group LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.9% in the 3rd quarter. Empower Advisory Group LLC now owns 19,900 shares of the communications equipment provider's stock valued at $151,000 after buying an additional 3,844 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $100,000. Assetmark Inc. grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% during the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider's stock worth $94,000 after acquiring an additional 11,708 shares during the period. Finally, QRG Capital Management Inc. raised its position in Telefonaktiebolaget LM Ericsson (publ) by 174.3% during the third quarter. QRG Capital Management Inc. now owns 516,387 shares of the communications equipment provider's stock valued at $3,914,000 after acquiring an additional 328,156 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.1 %

NASDAQ:ERIC traded up $0.01 on Thursday, hitting $8.00. The stock had a trading volume of 16,371,509 shares, compared to its average volume of 16,699,463. The company has a fifty day moving average price of $7.87 and a two-hundred day moving average price of $6.86. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of -266.33 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ERIC has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research note on Monday, October 21st. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of "Hold" and a consensus price target of $6.70.

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.