Amundi acquired a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 139,292 shares of the technology company's stock, valued at approximately $1,120,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOK. AQR Capital Management LLC boosted its stake in shares of Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company's stock worth $985,000 after purchasing an additional 40,276 shares during the last quarter. Millennium Management LLC raised its position in shares of Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock valued at $14,975,000 after buying an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Nokia by 6,204.9% in the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company's stock valued at $319,000 after buying an additional 59,505 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock valued at $66,140,000 after buying an additional 1,002,033 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in Nokia by 43.7% during the second quarter. Sivia Capital Partners LLC now owns 41,280 shares of the technology company's stock worth $214,000 after acquiring an additional 12,554 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on NOK shares. Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Nokia in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their price target on Nokia from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Wall Street Zen lowered shares of Nokia from a "buy" rating to a "hold" rating in a report on Sunday, May 3rd. Thirteen investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.57.
Read Our Latest Stock Report on Nokia
Nokia Stock Down 0.7%
Shares of Nokia stock opened at $9.37 on Friday. Nokia Corporation has a twelve month low of $4.07 and a twelve month high of $17.45. The stock has a market cap of $53.78 billion, a price-to-earnings ratio of 66.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $12.25 and a 200 day moving average price of $10.45.
Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. Nokia's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Equities research analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.
Nokia Company Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding NOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nokia Corporation (NYSE:NOK - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Nokia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nokia wasn't on the list.
While Nokia currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
