Russell Investments Group Ltd. Purchases 450,443 Shares of Nokia Corporation $NOK

Key Points

• Russell Investments increased its Nokia stake by 10%, purchasing 450,443 shares in Q3 to hold 4,946,684 shares (about $23.79M), representing roughly 0.09% of the company.
• Several other institutions — notably Penserra, Thrivent and Folketrygdfondet — also materially boosted positions, leaving overall institutional ownership at 5.28%.
• Analysts skew positive with a consensus rating of "Moderate Buy" and an average target of $7.01; some firms (Morgan Stanley, JPMorgan, Santander) have higher targets near $8, and Nokia was trading around $8.14 near its 52-week high of $8.37.

Russell Investments Group Ltd. increased its position in Nokia Corporation (NYSE:NOK - Free Report) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,946,684 shares of the technology company's stock after buying an additional 450,443 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Nokia worth $23,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NOK. Penserra Capital Management LLC increased its position in Nokia by 38.0% in the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company's stock valued at $37,328,000 after acquiring an additional 2,136,545 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Nokia during the third quarter worth $4,595,000. Thrivent Financial for Lutherans lifted its holdings in shares of Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company's stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the period. TSP Capital Management Group LLC grew its stake in shares of Nokia by 8.8% in the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company's stock worth $11,898,000 after purchasing an additional 200,400 shares during the last quarter. Finally, Folketrygdfondet increased its holdings in Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company's stock valued at $83,600,000 after purchasing an additional 6,950,487 shares during the period. Institutional investors own 5.28% of the company's stock.

Nokia Trading Up 3.0%

NYSE NOK opened at $8.14 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. Nokia Corporation has a 52 week low of $4.00 and a 52 week high of $8.37. The business has a 50 day moving average price of $7.09 and a 200-day moving average price of $6.20. The company has a market cap of $46.71 billion, a price-to-earnings ratio of 62.58, a P/E/G ratio of 2.88 and a beta of 0.80.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Kepler Capital Markets raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, January 7th. Morgan Stanley initiated coverage on Nokia in a research note on Monday, February 9th. They issued an "overweight" rating and a $8.00 price target for the company. Santander upgraded Nokia from a "neutral" rating to an "outperform" rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised their price target on shares of Nokia from $7.10 to $8.00 and gave the stock an "overweight" rating in a report on Monday, December 1st. Finally, Citigroup restated a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Nokia currently has an average rating of "Moderate Buy" and an average target price of $7.01.

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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