Stifel Financial Corp Decreases Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Stifel Financial Corp lessened its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,475 shares of the communications equipment provider's stock after selling 31,132 shares during the quarter. Stifel Financial Corp's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,414,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ERIC. Renaissance Technologies LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider's stock worth $109,673,000 after purchasing an additional 10,891,451 shares during the period. National Bank of Canada FI purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $23,440,000. Sei Investments Co. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock valued at $38,755,000 after purchasing an additional 1,705,246 shares during the period. Trexquant Investment LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $8,746,000. Finally, US Bancorp DE lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider's stock valued at $7,806,000 after buying an additional 787,154 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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. JPMorgan Chase & Co. increased their price target 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, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC traded up $0.01 during midday trading on Friday, reaching $8.29. 25,453,195 shares of the stock traded hands, compared to its average volume of 18,688,700. The stock has a market capitalization of $27.63 billion, a PE ratio of -829,000.00, a P/E/G ratio of 3.89 and a beta of 0.96. Telefonaktiebolaget LM Ericsson has a one year low of $5.30 and a one year high of $8.90. 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's 50 day moving average is $7.98 and its 200 day moving average is $8.08.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its earnings results 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. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. On average, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share 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.