Cetera Investment Advisers Sells 3,744 Shares of Ericsson (NASDAQ:ERIC)

Cetera Investment Advisers reduced its position in shares of Ericsson (NASDAQ:ERIC) by 4.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 89,390 shares of the communications equipment provider’s stock after selling 3,744 shares during the quarter. Cetera Investment Advisers’ holdings in Ericsson were worth $694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Ericsson by 0.9% during the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider’s stock valued at $1,227,000 after acquiring an additional 1,339 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in shares of Ericsson by 9.5% during the 1st quarter. Schechter Investment Advisors LLC now owns 18,476 shares of the communications equipment provider’s stock valued at $143,000 after acquiring an additional 1,609 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ericsson by 7.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 1,713 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of Ericsson by 6.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 30,122 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 1,777 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Ericsson by 14.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,397 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 2,057 shares during the period. 7.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Ericsson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th.

Ericsson Price Performance

ERIC opened at $7.61 on Friday. The business has a fifty day moving average of $7.94 and a 200 day moving average of $8.02. Ericsson has a 52-week low of $6.64 and a 52-week high of $8.99. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.35. The stock has a market cap of $25.48 billion, a P/E ratio of 15.22, a PEG ratio of 12.23 and a beta of 0.85.

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