Maxi Investments CY Ltd grew its position in Nokia Corporation (NYSE:NOK - Free Report) by 81.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686,500 shares of the technology company's stock after purchasing an additional 309,000 shares during the period. Maxi Investments CY Ltd's holdings in Nokia were worth $3,302,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Xponance Inc. raised its position in Nokia by 16.7% in the 3rd quarter. Xponance Inc. now owns 12,023 shares of the technology company's stock valued at $58,000 after buying an additional 1,717 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Nokia by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 355,298 shares of the technology company's stock worth $1,709,000 after acquiring an additional 1,840 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Nokia by 7.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 26,022 shares of the technology company's stock worth $125,000 after acquiring an additional 1,848 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Nokia by 5.0% in the third quarter. Evergreen Capital Management LLC now owns 44,984 shares of the technology company's stock valued at $216,000 after purchasing an additional 2,152 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Nokia by 28.3% in the third quarter. Assetmark Inc. now owns 12,362 shares of the technology company's stock worth $59,000 after purchasing an additional 2,727 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on NOK. Citigroup reaffirmed a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. New Street Research set a $6.57 price objective on shares of Nokia in a research note on Thursday, November 20th. Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a report on Monday, December 22nd. Kepler Capital Markets raised Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered Nokia from a "buy" rating to a "hold" rating in a report on Sunday, November 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average target price of $7.01.
Read Our Latest Report on Nokia
Key Stories Impacting Nokia
Here are the key news stories impacting Nokia this week:
Nokia Price Performance
NYSE:NOK opened at $8.66 on Tuesday. Nokia Corporation has a 12-month low of $4.00 and a 12-month high of $8.82. The firm has a market capitalization of $49.70 billion, a price-to-earnings ratio of 66.58, a P/E/G ratio of 3.01 and a beta of 0.79. The stock's 50 day moving average price is $7.17 and its two-hundred day moving average price is $6.29. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.
About Nokia
(
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.
See Also
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