Dimensional Fund Advisors LP lessened its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,966,316 shares of the technology company's stock after selling 251,732 shares during the period. Dimensional Fund Advisors LP owned 0.10% of Nokia worth $47,968,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOK. Analog Century Management LP bought a new position in shares of Nokia during the fourth quarter valued at about $104,244,000. QRG Capital Management Inc. increased its stake in Nokia by 34.6% in the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company's stock valued at $3,493,000 after buying an additional 138,935 shares during the last quarter. Pzena Investment Management LLC increased its stake in Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company's stock valued at $594,868,000 after buying an additional 11,612,590 shares during the last quarter. ARGA Investment Management LP bought a new position in shares of Nokia during the 4th quarter worth approximately $49,523,000. Finally, Calamos Advisors LLC boosted its position in Nokia by 28.1% in the fourth quarter. Calamos Advisors LLC now owns 1,947,300 shares of the technology company's stock worth $12,599,000 after purchasing an additional 427,300 shares during the last quarter. 5.28% of the stock is owned by institutional investors.
Nokia Stock Down 0.3%
Shares of Nokia stock opened at $9.11 on Monday. The company's 50 day moving average price is $12.85 and its 200-day moving average price is $10.37. Nokia Corporation has a 52-week low of $4.00 and a 52-week high of $17.45. The stock has a market capitalization of $52.32 billion, a price-to-earnings ratio of 65.09, a P/E/G ratio of 1.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50.
Nokia (NYSE:NOK - Get Free Report) last posted its earnings results 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 return on equity of 9.83% and a net margin of 3.49%.The firm had revenue of $5.50 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the previous year, the firm earned $0.04 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Nokia Corporation will post 0.41 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on NOK shares. JPMorgan Chase & Co. upped their price objective on Nokia from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Nordea Equity Research raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Monday, April 27th. Northland Securities set a $20.00 price target on Nokia in a research report on Wednesday, June 3rd. Finally, Bank of America raised Nokia from a "neutral" rating to a "buy" rating and set a $12.40 price objective for the company in a report on Monday, April 13th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.57.
Get Our Latest Report on NOK
About Nokia
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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.
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