Arete Wealth Advisors LLC Takes $2.11 Million Position in Nokia Corporation $NOK

Key Points

• Arete Wealth Advisors LLC initiated a $2.11 million position in Nokia during the first quarter by purchasing 261,889 shares. Other institutions, including Renaissance Technologies, also increased their holdings, although institutional ownership remains relatively low at 5.28%.
• Nokia’s latest quarterly results exceeded expectations on earnings, reporting EPS of $0.08 versus the $0.07 consensus estimate, while revenue rose 8.4% year over year to $5.50 billion but fell slightly short of forecasts.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $12.57, compared with the stock’s reported price of $9.11.

Arete Wealth Advisors LLC purchased a new position in Nokia Corporation (NYSE:NOK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 261,889 shares of the technology company's stock, valued at approximately $2,106,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Analog Century Management LP acquired a new stake in shares of Nokia during the fourth quarter worth about $104,244,000. QRG Capital Management Inc. increased its holdings in Nokia by 34.6% in the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company's stock worth $3,493,000 after buying an additional 138,935 shares during the period. SummitTX Capital L.P. increased its holdings in Nokia by 219.4% in the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company's stock worth $1,974,000 after buying an additional 168,688 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Nokia during the 1st quarter worth approximately $9,634,000. Finally, Renaissance Technologies LLC raised its position in Nokia by 131.3% during the 1st quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company's stock worth $106,890,000 after buying an additional 7,546,000 shares during the last quarter. Institutional investors own 5.28% of the company's stock.

Nokia Price Performance

Shares of NYSE NOK opened at $9.11 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The firm has a fifty day moving average of $12.85 and a 200 day moving average of $10.35. The firm has a market cap of $52.32 billion, a PE ratio of 65.09, a PEG ratio of 1.03 and a beta of 1.17. Nokia Corporation has a one year low of $4.00 and a one year high of $17.45.

Nokia (NYSE:NOK - Get Free Report) last posted 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. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm posted $0.04 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Nokia Corporation will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on NOK shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Nokia in a report on Friday, May 15th. Bank of America upgraded shares of Nokia from a "neutral" rating to a "buy" rating and set a $12.40 target price for the company in a research report on Monday, April 13th. Arete Research raised shares of Nokia from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating on shares of Nokia in a research report on Friday, May 22nd. Finally, Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Monday, April 27th. Thirteen research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.57.

About Nokia

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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