Hollencrest Capital Management Buys 50,500 Shares of Nokia Corporation $NOK

Hollencrest Capital Management increased its position in Nokia Corporation (NYSE:NOKFree Report) by 30,792.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,664 shares of the technology company’s stock after purchasing an additional 50,500 shares during the quarter. Hollencrest Capital Management’s holdings in Nokia were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NOK. Pzena Investment Management LLC grew its stake in Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Nokia by 9.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after purchasing an additional 3,896,363 shares during the period. ARGA Investment Management LP raised its position in shares of Nokia by 166.4% during the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. Finally, Analog Century Management LP acquired a new stake in Nokia in the 4th quarter valued at $104,244,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on NOK shares. Barclays restated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research report on Monday, April 13th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 27th. Finally, Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

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Nokia Stock Up 0.1%

Nokia stock opened at $10.13 on Monday. The firm has a 50 day moving average price of $13.77 and a 200-day moving average price of $10.17. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $17.45. The company has a market capitalization of $58.17 billion, a P/E ratio of 63.32, a P/E/G ratio of 1.43 and a beta of 1.17.

Nokia (NYSE:NOKGet Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The company had revenue of $5.21 billion for the quarter. As a group, equities analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Profile

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Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.

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Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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