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

Ritholtz Wealth Management decreased its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,696 shares of the communications equipment provider’s stock after selling 40,268 shares during the period. Ritholtz Wealth Management’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,504,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. SG Americas Securities LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 0.9% in the first quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider’s stock valued at $1,227,000 after purchasing an additional 1,339 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.8% during the 4th quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 1,464 shares during the period. Fulton Bank N.A. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.9% in the 1st quarter. Fulton Bank N.A. now owns 15,045 shares of the communications equipment provider’s stock worth $117,000 after acquiring an additional 2,388 shares during the last quarter. Tidal Investments LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 8.2% in the 4th quarter. Tidal Investments LLC now owns 32,681 shares of the communications equipment provider’s stock valued at $263,000 after acquiring an additional 2,484 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 75,812 shares of the communications equipment provider’s stock valued at $611,000 after purchasing an additional 2,763 shares during the last quarter. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.4%

Shares of ERIC opened at $8.38 on Monday. Telefonaktiebolaget LM Ericsson has a twelve month low of $5.79 and a twelve month high of $9.00. The stock has a market cap of $28.06 billion, a PE ratio of -838,000.00, a P/E/G ratio of 3.89 and a beta of 0.94. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $8.26 and its 200-day moving average price is $8.13.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced 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. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ERIC. Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) 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 Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th.

About Telefonaktiebolaget LM Ericsson (publ)

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.