Caisse DE Depot ET Placement DU Quebec Purchases Shares of 1,503,905 Nokia Corporation $NOK

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 1,503,905 shares of Nokia Corporation, valued at approximately $7.93 million.
• Nokia reported $0.05 EPS, missing the consensus estimate by $0.02, despite revenue growth to $5.34 billion.
• Analysts have a consensus rating of "Moderate Buy" for Nokia, with a price target of $5.78.

Caisse DE Depot ET Placement DU Quebec acquired a new position in Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,503,905 shares of the technology company's stock, valued at approximately $7,926,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. raised its stake in shares of Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock worth $27,000 after purchasing an additional 5,003 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Nokia during the 1st quarter worth about $27,000. Farther Finance Advisors LLC raised its stake in shares of Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after purchasing an additional 2,651 shares in the last quarter. Assetmark Inc. raised its stake in shares of Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after purchasing an additional 7,286 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Nokia during the 1st quarter worth about $51,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average target price of $5.78.

Nokia Stock Up 0.1%

Shares of NYSE NOK traded up $0.01 during mid-day trading on Monday, reaching $4.30. 14,764,453 shares of the company traded hands, compared to its average volume of 16,126,850. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The company's fifty day moving average is $4.57 and its two-hundred day moving average is $4.94. The stock has a market cap of $23.11 billion, a PE ratio of 21.48 and a beta of 0.90. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. Nokia's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 earnings per share. On average, analysts expect that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia 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.