Arete Wealth Advisors LLC Makes New $2.11 Million Investment in Nokia Corporation $NOK

Key Points

• Arete Wealth Advisors acquired 261,889 Nokia shares in the first quarter, valued at approximately $2.11 million. Other institutional investors also increased or initiated positions, though hedge funds and institutions collectively own only 5.28% of the company.
• Nokia shares were reported down 5.9%, opening at $8.40, well below the 50-day moving average of $13.08. The stock has traded between $4.00 and $17.45 over the past year.
• Nokia exceeded quarterly earnings expectations with EPS of $0.08 versus $0.07 forecast, while revenue rose 8.4% year over year to $5.50 billion but fell short of estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $12.57.

Arete Wealth Advisors LLC acquired a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 261,889 shares of the technology company's stock, valued at approximately $2,106,000.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company's stock worth $25,000 after buying an additional 2,721 shares in the last quarter. Wexford Capital LP purchased a new position in Nokia during the 3rd quarter valued at approximately $29,000. FNY Investment Advisers LLC increased its stake in Nokia by 33,457.1% in the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company's stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management bought a new stake in Nokia in the 4th quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nokia during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Stock Down 5.9%

Shares of NYSE:NOK opened at $8.40 on Thursday. The firm has a market capitalization of $48.23 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The business has a 50 day simple moving average of $13.08 and a two-hundred day simple moving average of $10.34. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $17.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. On average, equities analysts predict that Nokia Corporation will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Northland Securities set a $20.00 target price on shares of Nokia in a report on Wednesday, June 3rd. Nordea Equity Research raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a research report on Tuesday, June 9th. Danske raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Finally, Barclays restated an "underweight" rating on shares of Nokia in a report on Wednesday, April 29th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.57.

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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