Nokia Corporation $NOK Stock Holdings Increased by TSP Capital Management Group LLC

Key Points

• TSP Capital Management Group LLC raised its Nokia stake by 8.8%, adding 200,400 shares to hold 2,473,592 shares worth about $11.9 million, making Nokia 3.2% of the fund's portfolio and its 15th-largest position.
• Nokia beat quarterly expectations with $0.07 EPS versus $0.06 expected and revenue of $5.61 billion (up 11.6% year‑over‑year), and analysts carry a consensus "Moderate Buy" with an average price target of $6.10.
• Shares trade around $6.51 with a market cap near $37.35 billion and a PE of 36.14; the stock's 1-year range is $4.00–$8.19 and institutional/hedge-fund ownership is roughly 5.28%.

TSP Capital Management Group LLC raised its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 8.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,473,592 shares of the technology company's stock after buying an additional 200,400 shares during the quarter. Nokia accounts for 3.2% of TSP Capital Management Group LLC's portfolio, making the stock its 15th largest position. TSP Capital Management Group LLC's holdings in Nokia were worth $11,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOK. FNY Investment Advisers LLC purchased a new stake in Nokia in the 2nd quarter worth about $34,000. First Horizon Advisors Inc. increased its holdings in shares of Nokia by 677.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company's stock valued at $44,000 after purchasing an additional 7,394 shares during the period. Park National Corp OH purchased a new stake in shares of Nokia in the third quarter worth approximately $51,000. Eagle Strategies LLC acquired a new stake in shares of Nokia during the second quarter worth approximately $52,000. Finally, Trust Point Inc. acquired a new stake in shares of Nokia during the second quarter worth approximately $54,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Trading Up 0.5%

Shares of NOK opened at $6.51 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $5.37. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $8.19. The stock has a market cap of $37.35 billion, a PE ratio of 36.14 and a beta of 0.77.

Nokia (NYSE:NOK - Get Free Report) last announced its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Nokia had a return on equity of 8.24% and a net margin of 4.65%.The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the business earned $0.06 EPS. Nokia's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on NOK. Raymond James Financial reissued an "outperform" rating on shares of Nokia in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of Nokia from a "buy" rating to a "hold" rating in a research report on Sunday, November 30th. Northland Securities set a $7.50 price target on Nokia in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nokia in a report on Wednesday, October 15th. Finally, Jefferies Financial Group raised Nokia from a "hold" rating to a "buy" rating in a research note on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average price target of $6.10.

About Nokia

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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