Nokia Corporation $NOK Shares Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio increased its Nokia stake by 1,177.9% in the first quarter, adding 611,721 shares for a total of 663,654 shares valued at approximately $5.34 million.
• Several institutional investors also expanded their Nokia positions, including Millennium Management, NewEdge Advisors and Goldman Sachs. Institutional investors and hedge funds collectively own 5.28% of Nokia’s stock.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $12.57 price target. Nokia’s latest quarterly results beat EPS expectations, while revenue rose 8.4% year over year but came in slightly below forecasts.

Public Employees Retirement System of Ohio increased its holdings in Nokia Corporation (NYSE:NOK - Free Report) by 1,177.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 663,654 shares of the technology company's stock after acquiring an additional 611,721 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Nokia were worth $5,336,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Amundi purchased a new position in shares of Nokia during the 1st quarter valued at approximately $776,000. AQR Capital Management LLC grew its holdings in Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company's stock worth $985,000 after acquiring an additional 40,276 shares in the last quarter. Millennium Management LLC increased its position in shares of Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock worth $14,975,000 after purchasing an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Nokia by 6,204.9% in the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company's stock worth $319,000 after purchasing an additional 59,505 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock valued at $66,140,000 after purchasing an additional 1,002,033 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on NOK. Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Nokia in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on Nokia from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Nokia in a research report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.57.

Nokia Price Performance

Shares of NOK opened at $8.40 on Thursday. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22. The stock has a fifty day moving average price of $13.08 and a 200 day moving average price of $10.34. The company has a market cap of $48.23 billion, a P/E ratio of 60.00, a PEG ratio of 1.01 and a beta of 1.17.

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 analysts' consensus estimates of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The company had revenue of $5.50 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period last year, the business posted $0.04 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts forecast that Nokia Corporation will post 0.41 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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