JPMorgan Chase & Co. increased its position in shares of Ericsson (NASDAQ:ERIC) by 282.3% during the second quarter, Holdings Channel reports. The fund owned 422,932 shares of the company’s stock after buying an additional 312,304 shares during the period. JPMorgan Chase & Co.’s holdings in Ericsson were worth $3,249,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ERIC. Primecap Management Co. CA increased its stake in Ericsson by 4.6% in the first quarter. Primecap Management Co. CA now owns 78,258,204 shares of the company’s stock worth $784,930,000 after buying an additional 3,465,300 shares during the last quarter. Cambiar Investors LLC increased its stake in Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock worth $138,429,000 after buying an additional 1,746,391 shares during the last quarter. Symons Capital Management Inc. acquired a new stake in Ericsson during the second quarter valued at approximately $15,018,000. Chubb Ltd. acquired a new stake in Ericsson during the first quarter valued at approximately $15,045,000. Finally, Renaissance Technologies LLC increased its stake in Ericsson by 123.3% in the first quarter. Renaissance Technologies LLC now owns 1,494,100 shares of the company’s stock valued at $14,986,000 after buying an additional 825,131 shares in the last quarter. Institutional investors own 7.29% of the company’s stock.
Shares of Ericsson (NASDAQ:ERIC) opened at 5.421 on Wednesday. Ericsson has a 52-week low of $5.35 and a 52-week high of $10.56. The firm has a market cap of $17.68 billion, a P/E ratio of 11.247 and a beta of 0.92. The company has a 50-day moving average of $6.78 and a 200 day moving average of $7.62.
Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. On average, equities analysts expect that Ericsson will post $0.51 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Charter Equity downgraded shares of Ericsson from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 20th. Argus reiterated a “hold” rating on shares of Ericsson in a research report on Thursday, October 13th. Morgan Stanley reiterated a “neutral” rating on shares of Ericsson in a research report on Friday, August 12th. Barclays PLC upgraded shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Ericsson in a research report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Ericsson has a consensus rating of “Hold” and an average price target of $8.21.
Ericsson Company Profile
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.
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