Nokia Corporation $NOK Stock Position Lifted by ARGA Investment Management LP

ARGA Investment Management LP increased its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 364.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,815,690 shares of the technology company's stock after buying an additional 17,119,411 shares during the period. Nokia comprises 5.6% of ARGA Investment Management LP's investment portfolio, making the stock its 7th largest holding. ARGA Investment Management LP owned approximately 0.38% of Nokia worth $221,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Jackson Square Capital LLC purchased a new position in Nokia in the third quarter valued at $2,392,000. SummitTX Capital L.P. grew its stake in Nokia by 219.4% during the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company's stock worth $1,974,000 after purchasing an additional 168,688 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Nokia during the 1st quarter worth about $9,634,000. Amundi purchased a new stake in Nokia during the 1st quarter worth about $1,120,000. Finally, Legacy Wealth Asset Management LLC purchased a new stake in Nokia during the 3rd quarter worth about $1,359,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Performance

Shares of Nokia stock opened at $8.48 on Wednesday. The firm's fifty day simple moving average is $9.90 and its 200-day simple moving average is $10.26. Nokia Corporation has a 12 month low of $5.86 and a 12 month high of $17.45. The stock has a market capitalization of $48.72 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.47 and a quick ratio of 1.19.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.72 billion. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. As a group, equities analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOK shares. B. Riley Financial started coverage on Nokia in a research report on Thursday, September 17th. They issued a "buy" rating and a $15.00 price target on the stock. S&P Equity Research reissued a "positive" rating on shares of Nokia in a research report on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a research note on Friday, September 4th. Rosenblatt Securities reduced their target price on shares of Nokia from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Finally, Citigroup reiterated a "buy" rating on shares of Nokia in a research note on Friday, October 23rd. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.41.

Nokia Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company's business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.