134,020 Shares of Nokia Corporation $NOK Bought by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management purchased 134,020 Nokia shares during the third quarter, valued at approximately $1.36 million. Institutional investors collectively own 5.28% of Nokia.
• Nokia reported quarterly EPS of $0.08, exceeding estimates by $0.01, while revenue rose 8.4% year over year to $5.50 billion, slightly below expectations.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $14.12 versus the stock’s cited price of $10.13.

Legacy Wealth Asset Management LLC purchased a new position in shares of Nokia Corporation (NYSE:NOK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 134,020 shares of the technology company's stock, valued at approximately $1,359,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Nokia by 1,152.7% during the second quarter. IFP Advisors Inc now owns 7,942 shares of the technology company's stock valued at $105,000 after purchasing an additional 7,308 shares during the period. Marathon Trading Investment Management LLC acquired a new stake in Nokia during the 4th quarter valued at $65,000. Gateway Wealth Partners LLC acquired a new stake in Nokia during the 1st quarter valued at $81,000. Waverly Advisors LLC purchased a new stake in Nokia during the 1st quarter worth $82,000. Finally, Foster Group Inc. acquired a new position in Nokia in the 2nd quarter worth $138,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Stock Performance

Shares of NOK opened at $10.13 on Friday. The firm has a market capitalization of $58.20 billion, a PE ratio of 72.39, a P/E/G ratio of 1.26 and a beta of 1.19. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $10.22 and a 200 day moving average price of $11.38. Nokia Corporation has a 52-week low of $5.11 and a 52-week high of $17.45.

Nokia (NYSE:NOK - Get Free Report) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business posted $0.04 earnings per share. Nokia's revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on NOK shares. Rosenblatt Securities began coverage on Nokia in a research note on Tuesday, September 15th. They set a "buy" rating and a $15.00 target price for the company. JPMorgan Chase & Co. increased their price target on Nokia from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nokia in a research report on Friday, September 4th. Finally, B. Riley Financial assumed coverage on Nokia in a research note on Thursday, September 17th. They set a "buy" rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.12.

Key Stories Impacting Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI infrastructure remains the key growth narrative. CEO Justin Hotard said AI demand is still well ahead of supply, supporting Nokia’s positioning in networking equipment and data-center infrastructure. Analysts have also raised modeled fair value from €7.39 to €10.72, citing Nokia’s role in AI and cloud infrastructure and approximately €2.8 billion in order intake. Nokia’s CEO Issues Bullish Verdict on AI Infrastructure Growth as NOK Stock Doubles Nokia Stock Fair Value Rises After AI and Cloud Analyst Optimism
• Positive Sentiment: Arelion completed a live Nokia optical-network trial on a 500-kilometer Amsterdam–London route. Nokia’s 1830 Global Express system and coherent optics demonstrated expanded spectrum, higher capacity and potentially better cost efficiency for wholesale, hyperscale and enterprise customers. Arelion Partners With Nokia to Demonstrate Expanded Optical Spectrum and Backbone Capacity
• Positive Sentiment: Nokia is pursuing additional growth markets. The company is pivoting toward Nvidia-backed AI radio-access networks in India and partnering with ICEYE on secure low-Earth-orbit broadband systems for governments, potentially expanding its exposure to AI, defense and sovereign communications. Nokia Pivots to Nvidia-Backed AI Radio Access Networks for India Nokia Targets Sovereign Satellite Communications for Governments
• Neutral Sentiment: Nokia’s planned 4G lunar-network work with NASA and recognition of employee Teemu Itälä reinforce its technology and innovation profile, but neither development is likely to have a material near-term earnings effect. Nokia and NASA Team Up to Bring 4G to the Moon
• Negative Sentiment: Analysts continue to flag cyclical telecom spending, intense competition and execution risk despite Nokia’s AI opportunity. The company is also ending its MoCA-based broadband partnership with InCoax because of limited market interest, indicating that not all connectivity initiatives are gaining traction. With the stock having already risen substantially over six months, investors may be taking profits while waiting for AI-related revenue to convert into sustained earnings.

About Nokia

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.

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