Nokia Corporation $NOK Shares Bought by Bank of America Corp DE

Key Points

• Bank of America more than doubled its Nokia stake in the first quarter, adding 1.25 million shares to hold 2.43 million shares valued at approximately $19.6 million. Other institutional investors also increased or initiated positions, though institutions collectively own only 5.28% of Nokia.
• Nokia’s Network Infrastructure business is benefiting from AI-driven demand, while its reported expansion of U.S. optical manufacturing could support high-speed networking growth. However, planned closures and job cuts in mainland China—including a potential Hangzhou R&D center closure affecting about 1,600 jobs—create restructuring and revenue risks.
• The stock traded at $10.39, down 3.6%, while analysts maintained a consensus “Moderate Buy” rating with a $12.57 price target. Nokia recently exceeded quarterly EPS expectations, but revenue came in slightly below forecasts despite rising 8.4% year over year.

Bank of America Corp DE boosted its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 105.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,434,347 shares of the technology company's stock after buying an additional 1,248,249 shares during the quarter. Bank of America Corp DE's holdings in Nokia were worth $19,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOK. Analog Century Management LP acquired a new position in Nokia in the fourth quarter valued at approximately $104,244,000. QRG Capital Management Inc. increased its holdings in shares of Nokia by 34.6% during the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company's stock valued at $3,493,000 after purchasing an additional 138,935 shares in the last quarter. SummitTX Capital L.P. lifted its stake in shares of Nokia by 219.4% in the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company's stock valued at $1,974,000 after purchasing an additional 168,688 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Nokia during the first quarter worth $9,634,000. Finally, Amundi purchased a new position in Nokia in the first quarter valued at $1,120,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Key Nokia News

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI-driven demand is supporting Nokia’s Network Infrastructure business, with growth in the segment providing a potential offset to weakness in Fixed Networks. However, changing analyst estimates leave questions about how sustainable the improvement will be. NOK Rides on Strength of Network Infrastructure: Will the Gain Last?
• Positive Sentiment: Nokia is reportedly expanding its U.S. optical manufacturing capabilities through the acquisition of an NXP semiconductor fabrication facility. The move could strengthen domestic production capacity and position the company to benefit from demand for high-speed optical networking equipment. Nokia furthers US optical manufacturing capacity with NXP fab acquisition
• Neutral Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for Nokia, indicating generally favorable expectations but not a strong uniform conviction among analysts. Nokia Corporation Given Consensus Recommendation of Moderate Buy
• Negative Sentiment: Reports from the South China Morning Post say Nokia plans to close almost all of its mainland China sites by year-end, reduce its workforce substantially and shut locations in stages. The retrenchment may lower operating costs over time, but investors are focusing on the immediate risk of restructuring expenses, weaker China revenue and reduced access to the market. Nokia to close almost all sites in mainland China by year end Nokia Shares Fall on Report of Major Mainland China Retreat
• Negative Sentiment: A separate report says closure of Nokia’s Hangzhou research-and-development center could affect approximately 1,600 jobs, reinforcing concerns about the scale of the company’s China pullback. Nokia reportedly plans Hangzhou R&D center closure

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOK. Barclays reissued an "underweight" rating on shares of Nokia in a research note on Wednesday, April 29th. Arete Research raised Nokia from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Monday, April 27th. Danske raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nokia in a report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.57.

Nokia Trading Down 3.6%

Shares of NYSE NOK opened at $10.39 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $59.66 billion, a PE ratio of 74.21, a PEG ratio of 1.27 and a beta of 1.19. Nokia Corporation has a twelve month low of $4.20 and a twelve month high of $17.45. The stock has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $10.65.

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, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.Nokia's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current year.

Nokia Company Profile

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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