Waterfront Wealth Inc. Sells 168,047 Shares of Nokia Corporation $NOK

Key Points

• Waterfront Wealth Inc. cut its Nokia stake by 52.8% in the first quarter, selling 168,047 shares and leaving it with 149,965 shares worth about $1.21 million.
• Analyst sentiment remains constructive overall, with Nokia holding a Moderate Buy consensus rating and an average price target of $12.57. Several firms recently upgraded or reaffirmed positive ratings, though some analysts remain cautious.
• Nokia’s stock was recently down 3.5% to $12.45, even as the company continues to highlight growth opportunities such as expanded work with NestAI on AI-enabled defense capabilities.

Waterfront Wealth Inc. cut its stake in Nokia Corporation (NYSE:NOK - Free Report) by 52.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,965 shares of the technology company's stock after selling 168,047 shares during the quarter. Waterfront Wealth Inc.'s holdings in Nokia were worth $1,206,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company's stock worth $25,000 after acquiring an additional 2,721 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Nokia during the third quarter valued at approximately $29,000. FNY Investment Advisers LLC grew its stake 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 worth $30,000 after purchasing an additional 4,684 shares during the period. Dorato Capital Management bought a new position in Nokia in the fourth quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Nokia in the third quarter worth $34,000. 5.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOK shares. Arete Research upgraded shares of Nokia from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Barclays reissued an "underweight" rating on shares of Nokia in a research report on Wednesday, April 29th. The Goldman Sachs Group raised shares of Nokia from a "sell" rating to a "neutral" rating in a research note on Monday, March 30th. Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Nokia in a research note on Friday, May 22nd. 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 company's stock. According to MarketBeat, Nokia presently has an average rating of "Moderate Buy" and an average price target of $12.57.

Nokia News Summary

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia announced expanded work with NestAI to build AI-enabled defense capabilities using resilient connectivity, deployable 5G, and sensing technologies. The deal highlights Nokia’s push into higher-growth defense and AI network opportunities, which could improve investor sentiment. Nokia and NestAI build capability for AI-enabled defense operations with resilient connectivity in denied environments
• Neutral Sentiment: Reuters noted broader market chatter around “meme” and theme-driven trading, but this was not specific to Nokia and is unlikely to be a direct driver of the stock. Meme ETF rally leaves many underwater
• Neutral Sentiment: Nokia also drew valuation-focused coverage after a sharp pullback, with one piece arguing the stock may be fairly valued while another said it could still be undervalued on AI network optimism. That mixed assessment suggests the market is still debating how much upside is already priced in. Is Nokia Oyj HLSE: NOKIA Fairly Valued As Leadership Changes Meet A Sharp Pullback? Nokia HLSE: NOKIA Stock May Be 12% Undervalued On Fresh AI Network News
• Negative Sentiment: Nokia disclosed that FMR LLC’s indirect holdings fell below 5%, which may signal reduced institutional ownership and can be viewed as a modest headwind for sentiment. Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of FMR LLC in Nokia Corporation decreased below 5%

Nokia Stock Down 3.5%

Nokia stock traded down $0.46 during mid-day trading on Friday, hitting $12.45. The company had a trading volume of 50,067,888 shares, compared to its average volume of 83,880,504. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a market capitalization of $71.46 billion, a PE ratio of 77.79, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The stock's 50 day moving average price is $13.96 and its two-hundred day moving average price is $9.99. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, sell-side analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

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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