National Bank of Canada FI Sells 2,901,643 Shares of Ericsson $ERIC

Key Points

• National Bank of Canada FI drastically reduced its holdings in Ericsson by 99.8%, selling 2,901,643 shares and retaining only 6,525 shares which were valued at $50,000.
• Other hedge funds, such as SG Americas Securities and Schechter Investment Advisors, have increased their positions in Ericsson, indicating mixed investor sentiment around the company's stock.
• Ericsson's stock is currently trading at $7.69, showing a 0.3% decline, with a 52-week low of $6.64 and a high of $8.99.

National Bank of Canada FI decreased its holdings in shares of Ericsson (NASDAQ:ERIC - Free Report) by 99.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,525 shares of the communications equipment provider's stock after selling 2,901,643 shares during the quarter. National Bank of Canada FI's holdings in Ericsson were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC grew its position in Ericsson by 0.9% in the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider's stock valued at $1,227,000 after acquiring an additional 1,339 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of Ericsson by 9.5% in the first quarter. Schechter Investment Advisors LLC now owns 18,476 shares of the communications equipment provider's stock worth $143,000 after purchasing an additional 1,609 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Ericsson by 7.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider's stock worth $196,000 after acquiring an additional 1,713 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in Ericsson by 6.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 30,122 shares of the communications equipment provider's stock worth $234,000 after acquiring an additional 1,777 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Ericsson by 14.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,397 shares of the communications equipment provider's stock worth $127,000 after acquiring an additional 2,057 shares in the last quarter. Institutional investors own 7.99% of the company's stock.

Ericsson Stock Down 0.3%

Shares of NASDAQ:ERIC opened at $7.69 on Tuesday. Ericsson has a 52-week low of $6.64 and a 52-week high of $8.99. The stock has a market cap of $25.75 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 12.34 and a beta of 0.85. The business's 50 day moving average is $7.91 and its 200 day moving average is $8.03. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.35.

Ericsson (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $60.54 billion. During the same quarter in the prior year, the company earned ($3.34) EPS. The business's revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Ericsson will post 0.48 EPS for the current year.

Ericsson Company 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.

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