JPMorgan Chase & Co. Increases Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

JPMorgan Chase & Co. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 55.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,795,967 shares of the communications equipment provider’s stock after purchasing an additional 638,393 shares during the period. JPMorgan Chase & Co.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $14,475,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Sei Investments Co. lifted its holdings in shares of 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 buying an additional 1,705,246 shares in the last quarter. US Bancorp DE increased its holdings in 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 acquiring an additional 787,154 shares during the period. American Century Companies Inc. lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 27.5% in the 4th quarter. American Century Companies Inc. now owns 820,859 shares of the communications equipment provider’s stock worth $6,616,000 after purchasing an additional 177,142 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 41.7% in the 4th quarter. Natixis Advisors LLC now owns 743,003 shares of the communications equipment provider’s stock valued at $5,989,000 after purchasing an additional 218,516 shares during the period. Finally, Drum Hill Capital LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at $5,773,000. Institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ERIC shares. StockNews.com downgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $7.29 on Friday. The firm has a 50 day simple moving average of $7.87 and a two-hundred day simple moving average of $8.03. The stock has a market cap of $24.30 billion, a PE ratio of -729,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. 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 (publ) (NASDAQ:ERIC) last announced its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

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

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.