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Troluce Capital Advisors LLC Purchases New Shares in Nokia Corporation $NOK

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Key Points

  • Troluce Capital Advisors acquired 2.5 million Nokia shares worth approximately $20.1 million, making Nokia 1.2% of its portfolio and its 22nd-largest holding. Overall, hedge funds and institutional investors own 5.28% of Nokia.
  • Nokia reported quarterly EPS of $0.08, beating the $0.07 consensus estimate, while revenue rose 8.4% year over year to $5.50 billion, slightly below expectations.
  • Analyst sentiment is broadly positive: Nokia has a “Moderate Buy” consensus rating from 18 analysts and an average price target of $12.57, despite mixed ratings and ongoing concerns about uneven telecom spending and execution risks.
  • MarketBeat previews top five stocks to own in August.

Troluce Capital Advisors LLC acquired a new position in Nokia Corporation (NYSE:NOK - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,500,000 shares of the technology company's stock, valued at approximately $20,100,000. Nokia makes up 1.2% of Troluce Capital Advisors LLC's holdings, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOK. Fifth Third Bancorp grew its stake in shares of Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company's stock valued at $25,000 after acquiring an additional 2,721 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Nokia in the third quarter worth about $29,000. FNY Investment Advisers LLC boosted its holdings in Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company's stock valued at $30,000 after purchasing an additional 4,684 shares during the last quarter. Dorato Capital Management acquired a new stake in Nokia during the 4th quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nokia during the 3rd quarter worth approximately $34,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Price Performance

Shares of NYSE NOK opened at $9.07 on Monday. 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 company has a market capitalization of $52.11 billion, a price-to-earnings ratio of 64.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $17.45. The business has a 50 day simple moving average of $13.37 and a 200-day simple moving average of $10.29.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data 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. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The firm 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 revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Nokia Corporation will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NOK shares. Nordea Equity Research upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Arete Research raised shares of Nokia from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Barclays reiterated an "underweight" rating on shares of Nokia in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Nokia from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Northland Securities set a $20.00 target price on shares of Nokia in a research note on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Nokia currently has a consensus rating of "Moderate Buy" and an average price target of $12.57.

View Our Latest Stock Report on NOK

Key Headlines Impacting Nokia

Here are the key news stories impacting Nokia this week:

Nokia Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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.

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