Nokia Corporation $NOK Shares Acquired by Ethic Inc.

Ethic Inc. lifted its stake in shares of Nokia Corporation (NYSE:NOK) by 7.9% during the second quarter, HoldingsChannel.com reports. The firm owned 334,537 shares of the technology company’s stock after purchasing an additional 24,585 shares during the period. Ethic Inc.’s holdings in Nokia were worth $1,730,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbour Investments Inc. lifted its holdings in shares of Nokia by 7,046.5% in the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after purchasing an additional 5,003 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Nokia in the first quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Nokia in the second quarter valued at about $34,000. Assetmark Inc. lifted its holdings in shares of Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after purchasing an additional 7,286 shares in the last quarter. Finally, Eagle Strategies LLC purchased a new stake in shares of Nokia in the second quarter valued at about $52,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOK shares. JPMorgan Chase & Co. upped their price target on shares of Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Saturday. Northland Securities set a $7.50 target price on shares of Nokia in a report on Friday. Raymond James Financial restated an “outperform” rating on shares of Nokia in a report on Thursday. Finally, Wall Street Zen upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Saturday. Six equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $5.87.

Nokia Trading Up 2.0%

Shares of NOK stock opened at $6.30 on Friday. The firm has a market cap of $33.87 billion, a P/E ratio of 34.97 and a beta of 0.85. Nokia Corporation has a 1-year low of $3.91 and a 1-year high of $6.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The firm’s 50-day simple moving average is $4.83 and its 200-day simple moving average is $4.91.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. As a group, equities analysts forecast that Nokia Corporation will post 0.34 EPS for the current year.

About Nokia

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.