Oppenheimer & Co. Inc. Decreases Position in Ericsson (NASDAQ:ERIC)

Oppenheimer & Co. Inc. lowered its stake in shares of Ericsson (NASDAQ:ERIC - Free Report) by 32.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,674 shares of the communications equipment provider's stock after selling 113,095 shares during the period. Oppenheimer & Co. Inc.'s holdings in Ericsson were worth $1,852,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new position in Ericsson in the 4th quarter valued at approximately $35,000. GeoWealth Management LLC purchased a new position in Ericsson in the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC grew its stake in Ericsson by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after buying an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Ericsson in the 4th quarter valued at approximately $77,000. Finally, Diametric Capital LP purchased a new position in Ericsson in the 4th quarter valued at approximately $85,000. Hedge funds and other institutional investors own 7.99% of the company's stock.

Wall Street Analysts Forecast Growth

ERIC has been the subject of several analyst reports. Kepler Capital Markets raised shares of Ericsson from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of Ericsson from $8.90 to $9.80 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, Wall Street Zen raised shares of Ericsson from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th.

Ericsson Price Performance

Shares of NASDAQ ERIC opened at $8.44 on Friday. Ericsson has a 1 year low of $6.11 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.88. The company's 50-day moving average is $8.42 and its 200 day moving average is $8.14. The stock has a market capitalization of $28.26 billion, a P/E ratio of 168.80, a P/E/G ratio of 5.91 and a beta of 0.94.

Ericsson (NASDAQ:ERIC - Get Free Report) last released its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Ericsson had a net margin of 0.67% and a return on equity of 16.45%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. On average, sell-side analysts expect that Ericsson will post 0.48 earnings per share for the current year.

About Ericsson

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.

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