Ritholtz Wealth Management Sells 40,268 Shares of Ericsson (NASDAQ:ERIC)

Ritholtz Wealth Management reduced its holdings in shares of Ericsson (NASDAQ:ERIC - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 322,696 shares of the communications equipment provider's stock after selling 40,268 shares during the quarter. Ritholtz Wealth Management's holdings in Ericsson were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Choreo LLC lifted its stake in Ericsson by 17.9% during the 4th quarter. Choreo LLC now owns 24,459 shares of the communications equipment provider's stock valued at $198,000 after acquiring an additional 3,708 shares during the period. Savant Capital LLC raised its holdings in shares of Ericsson by 53.0% during the fourth quarter. Savant Capital LLC now owns 17,575 shares of the communications equipment provider's stock valued at $142,000 after purchasing an additional 6,090 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Ericsson during the fourth quarter valued at approximately $81,000. Principal Securities Inc. lifted its position in Ericsson by 225.4% during the fourth quarter. Principal Securities Inc. now owns 17,583 shares of the communications equipment provider's stock valued at $142,000 after purchasing an additional 12,180 shares during the period. Finally, Truist Financial Corp boosted its holdings in Ericsson by 80.7% in the fourth quarter. Truist Financial Corp now owns 47,443 shares of the communications equipment provider's stock worth $382,000 after purchasing an additional 21,192 shares during the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Ericsson Price Performance

NASDAQ:ERIC traded up $0.05 during trading hours on Thursday, hitting $8.33. 15,413,186 shares of the stock traded hands, compared to its average volume of 19,444,066. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 166.60, a price-to-earnings-growth ratio of 5.85 and a beta of 0.94. Ericsson has a 1 year low of $5.84 and a 1 year high of $9.00. The stock has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.13. 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 released its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $55.83 billion. Sell-side analysts forecast that Ericsson will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.