Ericsson (ERIC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in Ericsson (NASDAQ:ERIC) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,144 shares of the communications equipment provider’s stock after selling 40,707 shares during the period. Wells Fargo & Company MN’s holdings in Ericsson were worth $3,794,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ERIC. Two Sigma Securities LLC acquired a new position in shares of Ericsson during the first quarter worth $106,000. Mackenzie Financial Corp acquired a new position in shares of Ericsson during the first quarter worth $109,000. GenTrust LLC acquired a new position in shares of Ericsson during the second quarter worth $120,000. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Ericsson by 1.0% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock worth $130,000 after purchasing an additional 174 shares during the period. Finally, Ronald Blue & Co. LLC lifted its holdings in shares of Ericsson by 7.0% during the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 1,283 shares during the period. Hedge funds and other institutional investors own 7.95% of the company’s stock.

Ericsson (ERIC) opened at 5.91 on Tuesday. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.47.

Ericsson (NASDAQ:ERIC) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Ericsson will post $0.07 EPS for the current year.

A number of equities analysts have recently commented on ERIC shares. BidaskClub upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Ericsson in a report on Saturday, August 26th. Danske lowered shares of Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Zacks Investment Research lowered shares of Ericsson from a “hold” rating to a “strong sell” rating in a report on Friday, October 6th. Finally, BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.18.

TRADEMARK VIOLATION NOTICE: “Ericsson (ERIC) Shares Sold by Wells Fargo & Company MN” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://ledgerg

A number of other institutional investors also recently modified their holdings of ERIC. Two Sigma Securities LLC acquired a new position in shares of Ericsson during the first quarter worth $106,000. Mackenzie Financial Corp acquired a new position in shares of Ericsson during the first quarter worth $109,000. GenTrust LLC acquired a new position in shares of Ericsson during the second quarter worth $120,000. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Ericsson by 1.0% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock worth $130,000 after purchasing an additional 174 shares during the period. Finally, Ronald Blue & Co. LLC lifted its holdings in shares of Ericsson by 7.0% during the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 1,283 shares during the period. Hedge funds and other institutional investors own 7.95% of the company’s stock.

Ericsson (ERIC) opened at 5.91 on Tuesday. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.47.

Ericsson (NASDAQ:ERIC) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Ericsson will post $0.07 EPS for the current year.

A number of equities analysts have recently commented on ERIC shares. BidaskClub upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Ericsson in a report on Saturday, August 26th. Danske lowered shares of Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Zacks Investment Research lowered shares of Ericsson from a “hold” rating to a “strong sell” rating in a report on Friday, October 6th. Finally, BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.18.

TRADEMARK VIOLATION NOTICE: “Ericsson (ERIC) Shares Sold by Wells Fargo & Company MN” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/17/ericsson-eric-shares-sold-by-wells-fargo-company-mn.html.

Ericsson Profile

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

Institutional Ownership by Quarter for Ericsson (NASDAQ:ERIC)

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