Atria Investments Inc Raises Position in Nokia Corporation $NOK

Key Points

• Atria Investments raised its Nokia stake by 214.7% in Q2, adding 57,350 shares to hold 84,067 shares worth about $435,000, while other institutions (Goldman Sachs, Deutsche Bank, Millennium) also materially increased positions.
• Nokia posted an earnings and revenue beat (Q EPS $0.07 vs $0.06; revenue $5.61B vs $4.67B), its stock trades near $6.99 with a market cap of $37.6B and a P/E of 38.8, and analysts maintain a consensus "Moderate Buy" with an average target of $5.87 amid mixed rating changes.

Atria Investments Inc lifted its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 214.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,067 shares of the technology company's stock after purchasing an additional 57,350 shares during the quarter. Atria Investments Inc's holdings in Nokia were worth $435,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock worth $66,140,000 after buying an additional 1,002,033 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Nokia during the 1st quarter worth about $45,207,000. Deutsche Bank AG boosted its position in shares of Nokia by 129.4% in the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock worth $45,179,000 after acquiring an additional 4,835,005 shares during the last quarter. Northern Trust Corp boosted its position in shares of Nokia by 6.2% in the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company's stock worth $20,573,000 after acquiring an additional 228,030 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in 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 purchasing an additional 2,798,758 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Trading Up 2.2%

NYSE:NOK opened at $6.99 on Tuesday. The business's 50-day moving average is $5.43 and its two-hundred day moving average is $5.06. The firm has a market capitalization of $37.61 billion, a PE ratio of 38.84 and a beta of 0.84. Nokia Corporation has a 12 month low of $3.91 and a 12 month high of $8.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Research analysts predict that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOK shares. Santander downgraded shares of Nokia to a "neutral" rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded Nokia from a "buy" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. increased their target price on Nokia from $6.00 to $7.10 and gave the stock an "overweight" rating in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nokia in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nokia presently has an average rating of "Moderate Buy" and an average target price of $5.87.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.

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