Sequoia Financial Advisors LLC Cuts Stock Holdings in Ericsson (NASDAQ:ERIC)

Sequoia Financial Advisors LLC decreased its holdings in shares of Ericsson (NASDAQ:ERIC - Free Report) by 63.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Ericsson by 55.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock valued at $14,475,000 after purchasing an additional 638,393 shares in the last quarter. Atria Investments Inc grew its position in shares of Ericsson by 370.6% during the 4th quarter. Atria Investments Inc now owns 50,651 shares of the communications equipment provider's stock valued at $408,000 after purchasing an additional 39,889 shares in the last quarter. Northern Trust Corp grew its position in shares of Ericsson by 41.4% during the 4th 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. grew its position in shares of Ericsson by 15.0% during the 4th 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. grew its position in shares of Ericsson by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,966 shares of the communications equipment provider's stock valued at $419,000 after purchasing an additional 3,726 shares in the last quarter. Institutional investors own 7.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Kepler Capital Markets upgraded shares of Ericsson from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Wall Street Zen upgraded shares of Ericsson from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ericsson from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday, April 11th.

Ericsson Price Performance

NASDAQ:ERIC traded down $0.14 during midday trading on Friday, hitting $8.41. The company had a trading volume of 14,541,403 shares, compared to its average volume of 19,722,232. Ericsson has a 52-week low of $6.31 and a 52-week high of $9.00. The stock's fifty day moving average price is $8.44 and its 200-day moving average price is $8.14. The company has a market capitalization of $28.14 billion, a PE ratio of 168.10, a P/E/G ratio of 6.03 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 0.35.

Ericsson (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. As a group, research analysts expect that Ericsson will post 0.48 earnings per share 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.