Bluestein R H & Co. boosted its position in Nokia Corporation (NYSE:NOK) by 33.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the technology company’s stock after acquiring an additional 25,000 shares during the period. Bluestein R H & Co.’s holdings in Nokia were worth $598,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in NOK. US Bancorp DE boosted its holdings in shares of Nokia by 19.8% in the 2nd quarter. US Bancorp DE now owns 88,571 shares of the technology company’s stock valued at $545,000 after purchasing an additional 14,609 shares during the last quarter. NGAM Advisors L.P. boosted its holdings in shares of Nokia by 4.9% in the 2nd quarter. NGAM Advisors L.P. now owns 208,091 shares of the technology company’s stock valued at $1,282,000 after purchasing an additional 9,656 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Nokia by 71.4% in the 2nd quarter. IFP Advisors Inc now owns 29,098 shares of the technology company’s stock valued at $179,000 after purchasing an additional 12,122 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Nokia by 6.5% in the 2nd quarter. Global X Management Co. LLC now owns 340,735 shares of the technology company’s stock valued at $2,099,000 after purchasing an additional 20,834 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in shares of Nokia by 30.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 67,727 shares of the technology company’s stock valued at $417,000 after purchasing an additional 15,934 shares during the last quarter. 5.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. Vetr upgraded shares of Nokia from a “buy” rating to a “strong-buy” rating and set a $7.22 price target on the stock in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Canaccord Genuity decreased their price target on shares of Nokia from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, October 27th. BNP Paribas lowered shares of Nokia from a “neutral” rating to an “underperform” rating in a report on Thursday, September 21st. Finally, UBS restated a “buy” rating on shares of Nokia in a report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.72.
Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia had a negative net margin of 2.09% and a positive return on equity of 9.88%. The firm had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. equities research analysts forecast that Nokia Corporation will post 0.33 EPS for the current year.
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Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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