Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 65.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,876 shares of the communications equipment provider’s stock after selling 46,831 shares during the period. Truist Financial Corp’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $153,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $506,000. Nomura Holdings Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $384,000. NBC Securities Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 225.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 32,117 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth approximately $36,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $8.50 on Friday. The business’s 50 day moving average is $7.46 and its two-hundred day moving average is $6.45. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $8.62. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ERIC. JPMorgan Chase & Co. boosted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has a consensus rating of “Hold” and an average target price of $5.90.

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.