Cresset Asset Management LLC Decreases Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Cresset Asset Management LLC trimmed its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 65.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,525 shares of the communications equipment provider's stock after selling 68,527 shares during the period. Cresset Asset Management LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 275.3% in the 4th quarter. Global Retirement Partners LLC now owns 48,892 shares of the communications equipment provider's stock valued at $394,000 after buying an additional 35,863 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock valued at $14,475,000 after buying an additional 638,393 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 370.6% in the 4th quarter. Atria Investments Inc now owns 50,651 shares of the communications equipment provider's stock valued at $408,000 after buying an additional 39,889 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 15.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 252,164 shares of the communications equipment provider's stock valued at $2,032,000 after buying an additional 32,982 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 41.4% in the 4th quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider's stock valued at $14,277,000 after buying an additional 519,029 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ:ERIC traded up $0.19 during trading on Tuesday, hitting $8.77. 29,033,896 shares of the stock traded hands, compared to its average volume of 18,983,346. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $7.98 and a two-hundred day moving average price of $8.07. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.71 and a 52-week high of $8.90. The company has a market cap of $29.23 billion, a price-to-earnings ratio of -877,000.00, a P/E/G ratio of 3.89 and a beta of 0.96.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $55.83 billion. As a group, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

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.