Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Holdings Reduced by Ulysses Management LLC

Ulysses Management LLC trimmed its holdings in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,250,000 shares of the communications equipment provider’s stock after selling 150,000 shares during the period. Telefonaktiebolaget LM Ericsson makes up about 1.1% of Ulysses Management LLC’s holdings, making the stock its 15th largest holding. Ulysses Management LLC’s holdings in Telefonaktiebolaget LM Ericsson were worth $11,088,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Primecap Management Co. CA raised its stake in Telefonaktiebolaget LM Ericsson by 0.9% in the third quarter. Primecap Management Co. CA now owns 132,741,106 shares of the communications equipment provider’s stock valued at $1,168,122,000 after buying an additional 1,143,200 shares in the last quarter. Morgan Stanley grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 12.3% during the third quarter. Morgan Stanley now owns 5,125,882 shares of the communications equipment provider’s stock worth $45,107,000 after buying an additional 561,794 shares during the last quarter. Cavalry Management Group LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth about $39,935,000. JPMorgan Chase & Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 324.8% during the third quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock worth $26,617,000 after buying an additional 2,312,625 shares during the last quarter. Finally, Tairen Capital Ltd purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth about $22,558,000. Institutional investors own 7.73% of the company’s stock.

Shares of ERIC stock traded down $0.20 during midday trading on Monday, reaching $9.66. 7,385,361 shares of the company traded hands, compared to its average volume of 5,657,687. Telefonaktiebolaget LM Ericsson has a 1-year low of $6.28 and a 1-year high of $9.89. The company has a current ratio of 1.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.35. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 322.00, a PEG ratio of 0.74 and a beta of 0.52.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a negative net margin of 2.91% and a positive return on equity of 1.32%. The company had revenue of $63.80 billion for the quarter, compared to analyst estimates of $61.50 billion. During the same quarter in the previous year, the business posted ($1.19) earnings per share. Telefonaktiebolaget LM Ericsson’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.32 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on ERIC shares. Raymond James raised Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a report on Thursday, December 20th. Zacks Investment Research restated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Monday, December 31st. BidaskClub downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.54.

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Telefonaktiebolaget LM Ericsson Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

Further Reading: Buy-Side Analysts

Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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