Sequoia Financial Advisors LLC Lowers Stock Position in Ericsson (NASDAQ:ERIC)

Sequoia Financial Advisors LLC reduced its position in shares of Ericsson (NASDAQ:ERIC - Free Report) by 63.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,689 shares of the communications equipment provider's stock after selling 48,123 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Ericsson were worth $215,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ERIC. JPMorgan Chase & Co. increased its position in shares of Ericsson by 55.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock valued at $14,475,000 after acquiring an additional 638,393 shares in the last quarter. Atria Investments Inc raised its stake in shares of Ericsson by 370.6% in the fourth quarter. Atria Investments Inc now owns 50,651 shares of the communications equipment provider's stock worth $408,000 after purchasing an additional 39,889 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Ericsson by 41.4% during the fourth quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider's stock valued at $14,277,000 after purchasing an additional 519,029 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ericsson by 15.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 252,164 shares of the communications equipment provider's stock valued at $2,032,000 after purchasing an additional 32,982 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Ericsson by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,966 shares of the communications equipment provider's stock worth $419,000 after buying an additional 3,726 shares in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ericsson Stock Performance

Shares of ERIC traded up $0.04 during trading hours on Monday, hitting $8.58. The stock had a trading volume of 8,706,854 shares, compared to its average volume of 19,683,368. The stock has a fifty day moving average price of $8.44 and a 200 day moving average price of $8.15. Ericsson has a 12 month low of $6.31 and a 12 month 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 firm has a market capitalization of $28.71 billion, a PE ratio of 171.30, a PEG ratio of 6.03 and a beta of 0.93.

Ericsson (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $55.83 billion. Ericsson had a net margin of 0.67% and a return on equity of 16.45%. Analysts anticipate that Ericsson will post 0.48 EPS for the current 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.