JPMorgan Chase & Co. Has $14.48 Million Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

JPMorgan Chase & Co. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 55.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,795,967 shares of the communications equipment provider's stock after acquiring an additional 638,393 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.05% of Telefonaktiebolaget LM Ericsson (publ) worth $14,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. Sei Investments Co. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock worth $38,755,000 after purchasing an additional 1,705,246 shares during the period. US Bancorp DE grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider's stock worth $7,806,000 after buying an additional 787,154 shares during the period. Drum Hill Capital LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $5,773,000. Denali Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $3,705,000. Finally, Leuthold Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $3,403,000. Institutional investors and hedge funds own 7.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ERIC shares. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a research note on Friday, April 11th. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 3.1 %

Shares of NASDAQ ERIC traded up $0.25 during midday trading on Thursday, reaching $8.19. 6,043,555 shares of the stock were exchanged, compared to its average volume of 21,830,518. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.96 and a 12 month high of $8.90. The business has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.03. The company has a market capitalization of $27.28 billion, a price-to-earnings ratio of -818,500.00, a P/E/G ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly 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 firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. As a group, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 27th were issued a $0.1315 dividend. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. The ex-dividend date was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)'s payout ratio is -1,800,000.10%.

Telefonaktiebolaget LM Ericsson (publ) 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.