JPMorgan Chase & Co. Sells 2,484,957 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

JPMorgan Chase & Co. decreased its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 68.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,157,574 shares of the communications equipment provider’s stock after selling 2,484,957 shares during the period. JPMorgan Chase & Co.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $8,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 11.1% in the third quarter. Tidal Investments LLC now owns 30,197 shares of the communications equipment provider’s stock worth $229,000 after acquiring an additional 3,026 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% in the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 10,530 shares during the period. Virtu Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $601,000. Y Intercept Hong Kong Ltd bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $1,645,000. Finally, MML Investors Services LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 154.7% in the third quarter. MML Investors Services LLC now owns 56,837 shares of the communications equipment provider’s stock worth $431,000 after acquiring an additional 34,521 shares during the period. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.96 on Tuesday. The stock has a 50 day moving average of $8.17 and a 200 day moving average of $7.59. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The firm has a market cap of $26.53 billion, a PE ratio of -265.33 and a beta of 0.79. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. On average, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

ERIC has been the subject of a number of recent analyst reports. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st.

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.