Ericsson (NASDAQ:ERIC) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in shares of Ericsson (NASDAQ:ERIC - Free Report) by 63.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,689 shares of the communications equipment provider's stock after selling 48,123 shares during the period. Sequoia Financial Advisors LLC's holdings in Ericsson were worth $215,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new position in Ericsson during the first quarter valued at $31,000. Minot DeBlois Advisors LLC bought a new stake in Ericsson during the fourth quarter valued at about $35,000. GeoWealth Management LLC purchased a new position in shares of Ericsson in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC lifted its position in shares of Ericsson by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after acquiring an additional 2,840 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Ericsson in the fourth quarter valued at about $77,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Ericsson Trading Down 0.1%

Shares of ERIC traded down $0.01 during mid-day trading on Tuesday, reaching $8.54. 14,603,437 shares of the company's stock traded hands, compared to its average volume of 19,687,655. The stock has a market cap of $28.59 billion, a P/E ratio of 170.80, a P/E/G ratio of 6.04 and a beta of 0.93. The stock's 50-day moving average is $8.45 and its two-hundred day moving average is $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.

Ericsson (NASDAQ:ERIC - Get Free Report) last released 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. Ericsson had a return on equity of 16.45% and a net margin of 0.67%. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. Research analysts forecast that Ericsson will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.