Transmarket Holdings LP purchased a new stake in Nokia Corporation (NYSE:NOK – Free Report) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,674,215 shares of the technology company’s stock, valued at approximately $16,977,000. Nokia makes up approximately 9.5% of Transmarket Holdings LP’s portfolio, making the stock its 2nd largest position.
Other institutional investors and hedge funds also recently modified their holdings of the company. Gateway Wealth Partners LLC acquired a new stake in shares of Nokia during the 1st quarter valued at $81,000. Waverly Advisors LLC acquired a new position in shares of Nokia in the 1st quarter worth $82,000. Stephens Inc. AR acquired a new stake in shares of Nokia during the first quarter worth $87,000. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Nokia during the first quarter worth $95,000. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,483 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.
Nokia Trading Up 3.8%
NYSE NOK opened at $9.22 on Thursday. Nokia Corporation has a twelve month low of $5.86 and a twelve month high of $17.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47. The stock has a market cap of $52.97 billion, a price-to-earnings ratio of 57.66, a PEG ratio of 0.92 and a beta of 1.19. The firm’s 50 day moving average price is $10.02 and its two-hundred day moving average price is $10.21.
Nokia (NYSE:NOK – Get Free Report) last announced its earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Equities analysts anticipate that Nokia Corporation will post 0.40 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NOK. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. S&P Equity Research reissued a “positive” rating on shares of Nokia in a research note on Thursday, July 30th. UBS Group restated a “neutral” rating on shares of Nokia in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. Finally, Rosenblatt Securities reduced their price objective on shares of Nokia from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $13.41.
Check Out Our Latest Report on Nokia
About Nokia
Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.
The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.
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