Charles Schwab Investment Management Inc. Increases Stock Position in Nokia Corporation $NOK

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Nokia Corporation by 18.8%, acquiring an additional 74,072 shares, bringing their total ownership to 468,939 shares valued at $2.47 million.
• Nokia reported $0.05 earnings per share for the last quarter, missing estimates, but their revenue of $5.34 billion exceeded expectations of $4.82 billion.
• The stock has a consensus rating of "Moderate Buy" among analysts, with an average target price of $5.78, despite a recent downgrade in target price by JPMorgan Chase & Co. from $6.50 to $6.00.

Charles Schwab Investment Management Inc. increased its position in Nokia Corporation (NYSE:NOK - Free Report) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,939 shares of the technology company's stock after buying an additional 74,072 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Nokia were worth $2,471,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOK. Barclays PLC raised its position in shares of Nokia by 38.4% in the fourth quarter. Barclays PLC now owns 104,726 shares of the technology company's stock valued at $464,000 after buying an additional 29,075 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Nokia by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company's stock worth $37,145,000 after purchasing an additional 57,615 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Nokia by 20.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 34,113 shares of the technology company's stock worth $151,000 after purchasing an additional 5,784 shares during the last quarter. Northern Trust Corp increased its position in Nokia by 85.9% during the fourth quarter. Northern Trust Corp now owns 3,675,795 shares of the technology company's stock worth $16,284,000 after purchasing an additional 1,698,005 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Nokia during the fourth quarter worth approximately $1,332,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NOK. Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.78.

Nokia Trading Up 0.1%

NOK traded up $0.01 during trading on Monday, hitting $4.30. 14,764,453 shares of the company's stock were exchanged, compared to its average volume of 16,126,850. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Nokia Corporation has a 1 year low of $3.91 and a 1 year high of $5.48. The stock has a 50 day moving average price of $4.57 and a 200 day moving average price of $4.94. The firm has a market cap of $23.11 billion, a P/E ratio of 21.48 and a beta of 0.90.

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

About Nokia

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.