Bank of America Corp DE Has $37.23 Million Stock Holdings in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Bank of America Corp DE lessened its position in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,003,323 shares of the communications equipment provider’s stock after selling 387,904 shares during the period. Bank of America Corp DE owned about 0.12% of Telefonaktiebolaget LM Ericsson worth $37,231,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Balyasny Asset Management LLC acquired a new position in Telefonaktiebolaget LM Ericsson during the 1st quarter worth about $27,258,000. Nuveen Asset Management LLC acquired a new position in Telefonaktiebolaget LM Ericsson during the 1st quarter worth about $24,678,000. FMR LLC lifted its position in Telefonaktiebolaget LM Ericsson by 24.3% during the 2nd quarter. FMR LLC now owns 9,058,903 shares of the communications equipment provider’s stock worth $84,249,000 after buying an additional 1,772,026 shares in the last quarter. Todd Asset Management LLC acquired a new position in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth about $12,731,000. Finally, Alyeska Investment Group L.P. lifted its position in Telefonaktiebolaget LM Ericsson by 363.4% during the 2nd quarter. Alyeska Investment Group L.P. now owns 549,581 shares of the communications equipment provider’s stock worth $5,111,000 after buying an additional 430,981 shares in the last quarter. Institutional investors own 8.32% of the company’s stock.

Shares of ERIC stock opened at $10.93 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.96. The stock has a market cap of $36.44 billion, a PE ratio of 121.44, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41. The stock has a 50-day moving average of $11.50 and a 200-day moving average of $9.36. Telefonaktiebolaget LM Ericsson has a one year low of $6.15 and a one year high of $12.10.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its earnings results on Friday, July 17th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Telefonaktiebolaget LM Ericsson had a return on equity of 5.81% and a net margin of 1.21%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.59 billion. As a group, research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.57 earnings per share for the current year.

Several brokerages recently issued reports on ERIC. Citigroup reiterated a “buy” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Monday, July 20th. BidaskClub cut Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Raymond James boosted their price objective on Telefonaktiebolaget LM Ericsson from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. ValuEngine cut Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Bank of America boosted their price objective on Telefonaktiebolaget LM Ericsson from $10.50 to $13.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $10.88.

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.

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

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