Jupiter Asset Management Ltd. reduced its holdings in shares of Nokia Corporation (NYSE:NOK – Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,000 shares of the technology company’s stock after selling 86,593 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Nokia were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. boosted its stake in shares of Nokia by 34.6% during the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock worth $3,493,000 after purchasing an additional 138,935 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Nokia during the 3rd quarter worth about $4,595,000. Penserra Capital Management LLC boosted its stake in shares of Nokia by 38.0% during the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after purchasing an additional 2,136,545 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Nokia during the 3rd quarter worth about $11,910,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NOK has been the topic of several analyst reports. Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a research note on Monday, February 2nd. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research note on Monday, April 13th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, April 27th. Finally, Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.71.
Nokia Trading Down 3.1%
Shares of NOK stock opened at $14.80 on Friday. The firm has a market cap of $84.99 billion, a P/E ratio of 92.51, a PEG ratio of 2.87 and a beta of 1.12. Nokia Corporation has a 1-year low of $4.00 and a 1-year high of $16.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.36. The firm’s 50-day simple moving average is $11.32 and its 200-day simple moving average is $8.41.
Nokia (NYSE:NOK – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. As a group, equities analysts forecast that Nokia Corporation will post 0.4 EPS for the current year.
Nokia Company Profile
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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