Ericsson (NASDAQ:ERIC) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Ericsson (NASDAQ:ERIC) by 13.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,019,814 shares of the communications equipment provider’s stock after selling 157,547 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ericsson were worth $7,914,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted 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 acquiring an additional 638,393 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Ericsson by 7.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 1,713 shares in the last quarter. Northern Trust Corp grew its stake in 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 acquiring an additional 519,029 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $2,032,000 after purchasing an additional 32,982 shares during the period. Finally, Cetera Investment Advisers increased its stake in Ericsson by 157.8% in the 4th quarter. Cetera Investment Advisers now owns 93,134 shares of the communications equipment provider’s stock valued at $751,000 after buying an additional 57,003 shares during the period. Institutional investors own 7.99% of the company’s stock.

Ericsson Trading Up 0.1%

ERIC stock opened at $7.47 on Tuesday. Ericsson has a 1-year low of $6.41 and a 1-year high of $9.00. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $8.36 and its 200-day moving average is $8.13. The firm has a market cap of $25.01 billion, a P/E ratio of 14.94, a P/E/G ratio of 12.14 and a beta of 0.93.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 7.06% and a return on equity of 21.17%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $60.54 billion. During the same quarter last year, the business posted ($3.34) earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. Equities analysts anticipate that Ericsson will post 0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ERIC has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Ericsson from $8.90 to $9.80 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Kepler Capital Markets upgraded 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 note on Thursday, April 17th.

Ericsson Company 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.