Beverly Hills Private Wealth LLC Makes New $180,000 Investment in Nokia Corporation $NOK

Beverly Hills Private Wealth LLC bought a new position in Nokia Corporation (NYSE:NOK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,749 shares of the technology company’s stock, valued at approximately $180,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lesa Sroufe & Co grew its stake in Nokia by 3.6% in the 2nd quarter. Lesa Sroufe & Co now owns 382,106 shares of the technology company’s stock worth $1,979,000 after acquiring an additional 13,124 shares during the period. Ritholtz Wealth Management grew its stake in Nokia by 23.8% in the 2nd quarter. Ritholtz Wealth Management now owns 55,829 shares of the technology company’s stock worth $289,000 after acquiring an additional 10,724 shares during the period. Naviter Wealth LLC purchased a new stake in Nokia in the 2nd quarter worth approximately $348,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Nokia by 20.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 91,242 shares of the technology company’s stock valued at $473,000 after purchasing an additional 15,233 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Nokia by 12.9% in the 2nd quarter. Vest Financial LLC now owns 34,597 shares of the technology company’s stock valued at $179,000 after purchasing an additional 3,953 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Stock Performance

NYSE:NOK opened at $5.59 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 27.95 and a beta of 0.85. The firm’s fifty day simple moving average is $4.72 and its 200 day simple moving average is $4.88. Nokia Corporation has a twelve month low of $3.91 and a twelve month high of $5.79.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, equities research analysts expect that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

NOK has been the topic of a number of research analyst reports. BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Finally, BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.32.

Nokia Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.