Sun Sep 15 13:35:17 UTC 2024: ## Oppenheimer & Co. Inc. Boosts Stake in Ericsson, Institutional Interest Rises

**Stockholm, Sweden** – Oppenheimer & Co. Inc. significantly increased its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the second quarter of 2024, according to Holdings Channel. The firm’s stake in the communications equipment provider rose by 164.6%, acquiring an additional 536,807 shares, bringing their total ownership to 862,856 shares valued at $5,324,000.

This move by Oppenheimer reflects a growing trend among institutional investors towards Ericsson. Other notable changes in holdings include:

* Natixis Advisors L.P. boosting its stake by 15.4% during the fourth quarter.
* QRG Capital Management Inc. raising its holdings by 2.6% during the fourth quarter.
* Dorsey & Whitney Trust CO LLC increasing its stake by 198.3% during the fourth quarter.
* Lake Street Advisors Group LLC and Seven Eight Capital LP purchasing new positions in Ericsson during the fourth quarter.

Overall, hedge funds and institutional investors now own 7.99% of Ericsson’s outstanding shares.

Meanwhile, JPMorgan Chase & Co. raised its price target for Ericsson to $5.90 from $5.58, maintaining a “neutral” rating. Analyst consensus currently stands at “Hold” with an average price target of $5.90.

Ericsson’s stock opened at $7.46 on Friday, showing some recent strength. The company reported earnings on July 12th, missing analysts’ estimates for the quarter but exceeding revenue expectations.

Ericsson continues to provide mobile connectivity solutions to telecom operators and enterprise customers globally. Despite some recent challenges, the company remains a key player in the telecommunications industry, and its strong institutional backing suggests confidence in its future prospects.

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