Moloney Securities Asset Management LLC Trims Position in Ericsson $ERIC

Moloney Securities Asset Management LLC cut its holdings in shares of Ericsson (NASDAQ:ERIC) by 44.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the communications equipment provider’s stock after selling 12,000 shares during the period. Moloney Securities Asset Management LLC’s holdings in Ericsson were worth $127,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in shares of Ericsson during the first quarter valued at approximately $27,000. Cromwell Holdings LLC increased its stake in shares of Ericsson by 72.8% during the second quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 4,330 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Ericsson by 692.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 12,456 shares of the communications equipment provider’s stock valued at $97,000 after buying an additional 10,884 shares during the period. Caliber Wealth Management LLC KS purchased a new position in shares of Ericsson during the first quarter valued at approximately $110,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Ericsson during the first quarter valued at approximately $126,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays reaffirmed an “underweight” rating on shares of Ericsson in a research note on Wednesday, October 15th. BNP Paribas reaffirmed an “underperform” rating on shares of Ericsson in a research note on Wednesday, September 3rd. Weiss Ratings raised Ericsson from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Cfra Research raised Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen cut Ericsson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $9.80.

Ericsson Trading Down 0.3%

Ericsson stock opened at $9.45 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $8.32 and its two-hundred day simple moving average is $8.17. Ericsson has a 12 month low of $6.64 and a 12 month high of $9.87. The company has a market capitalization of $31.64 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87.

Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, October 14th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Ericsson had a return on equity of 21.50% and a net margin of 10.44%.The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $57.16 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities analysts predict that Ericsson will post 0.48 earnings per share for the current fiscal year.

Ericsson 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.