Kovack Advisors Inc. Reduces Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Kovack Advisors Inc. trimmed its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,559 shares of the communications equipment provider’s stock after selling 40,351 shares during the quarter. Kovack Advisors Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $112,000. Institute for Wealth Management LLC. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 75.3% in the 4th quarter. Institute for Wealth Management LLC. now owns 57,388 shares of the communications equipment provider’s stock valued at $362,000 after buying an additional 24,643 shares during the period. Sapient Capital LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $121,000. Cerity Partners LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 301.6% in the 4th quarter. Cerity Partners LLC now owns 41,886 shares of the communications equipment provider’s stock valued at $264,000 after buying an additional 31,456 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after buying an additional 290,949 shares during the period. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ERIC shares. JPMorgan Chase & Co. decreased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. Finally, UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.1 %

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.06 during mid-day trading on Friday, hitting $5.18. The company’s stock had a trading volume of 8,648,118 shares, compared to its average volume of 20,645,610. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $5.36 and its two-hundred day moving average is $5.36. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. During the same period in the prior year, the firm earned $0.20 earnings per share. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.39 earnings per share for the current fiscal year.

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.