Institute for Wealth Management LLC. acquired a new stake in shares of Nokia Oyj (NYSE:NOK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,535 shares of the technology company’s stock, valued at approximately $88,000.
Several other institutional investors and hedge funds also recently made changes to their positions in NOK. Truvestments Capital LLC grew its holdings in shares of Nokia Oyj by 1,375.2% during the second quarter. Truvestments Capital LLC now owns 4,942 shares of the technology company’s stock valued at $25,000 after buying an additional 4,607 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in Nokia Oyj in the first quarter valued at $28,000. Sterling Investment Advisors Ltd. purchased a new stake in Nokia Oyj in the first quarter valued at $29,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Nokia Oyj in the first quarter valued at $29,000. Finally, Bremer Bank National Association purchased a new stake in Nokia Oyj in the first quarter valued at $30,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.
NOK has been the topic of several recent research reports. Charter Equity raised shares of Nokia Oyj from a “market perform” rating to a “buy” rating in a report on Friday, July 26th. ValuEngine raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Raymond James raised shares of Nokia Oyj from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 25th. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, Santander raised shares of Nokia Oyj from an “underweight” rating to a “buy” rating in a report on Monday, July 1st. Three research analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Nokia Oyj currently has a consensus rating of “Buy” and an average price target of $6.83.
Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.40 billion. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.84%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities research analysts forecast that Nokia Oyj will post 0.27 EPS for the current year.
About Nokia Oyj
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).
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