Bank of America Corp DE Sells 165,265 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Bank of America Corp DE trimmed its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,472,462 shares of the communications equipment provider's stock after selling 165,265 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Telefonaktiebolaget LM Ericsson (publ) worth $27,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 176.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,328,099 shares of the communications equipment provider's stock valued at $10,704,000 after buying an additional 848,205 shares during the period. Jane Street Group LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 60.9% in the 4th quarter. Jane Street Group LLC now owns 1,121,197 shares of the communications equipment provider's stock worth $9,037,000 after acquiring an additional 424,423 shares in the last quarter. Northern Trust Corp lifted its stake 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 purchasing an additional 519,029 shares during the period. Boothbay Fund Management LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 20.5% in the 4th quarter. Boothbay Fund Management LLC now owns 2,257,459 shares of the communications equipment provider's stock valued at $18,195,000 after purchasing an additional 383,463 shares during the period. Finally, Two Sigma Securities LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 66.9% during the 4th quarter. Two Sigma Securities LLC now owns 108,596 shares of the communications equipment provider's stock valued at $875,000 after purchasing an additional 43,535 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.0%

Shares of ERIC stock traded up $0.09 on Wednesday, reaching $8.86. 39,354,461 shares of the company were exchanged, compared to its average volume of 19,078,156. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The company has a 50-day moving average of $8.00 and a 200-day moving average of $8.08. The company has a market cap of $29.53 billion, a price-to-earnings ratio of -886,000.00, a PEG ratio of 3.89 and a beta of 0.96. Telefonaktiebolaget LM Ericsson has a one year low of $5.73 and a one year high of $8.99.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted 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 research report on Friday, April 11th.

About Telefonaktiebolaget LM Ericsson (publ)

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.