Pzena Investment Management LLC Increases Stock Position in Nokia Corporation $NOK

Pzena Investment Management LLC grew its position in Nokia Corporation (NYSE:NOK) by 17.0% during the third quarter, HoldingsChannel.com reports. The fund owned 80,329,917 shares of the technology company’s stock after acquiring an additional 11,667,677 shares during the quarter. Nokia comprises 1.3% of Pzena Investment Management LLC’s investment portfolio, making the stock its 26th biggest position. Pzena Investment Management LLC’s holdings in Nokia were worth $386,387,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in Nokia during the second quarter valued at approximately $34,000. First Horizon Advisors Inc. raised its holdings in shares of Nokia by 677.1% in the second quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company’s stock worth $44,000 after buying an additional 7,394 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in Nokia during the 3rd quarter valued at $50,000. World Investment Advisors purchased a new stake in Nokia in the second quarter worth $54,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Nokia during the second quarter worth $54,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NOK shares. Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Tuesday, October 28th. Northland Securities set a $7.50 target price on Nokia in a research report on Friday, October 24th. New Street Research set a $6.57 target price on Nokia in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Monday, December 22nd. Finally, UBS Group reissued a “neutral” rating on shares of Nokia in a research report on Tuesday, October 28th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and an average price target of $7.01.

Nokia Trading Up 1.7%

Nokia stock opened at $7.43 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The stock has a market cap of $42.64 billion, a PE ratio of 57.12, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The stock has a 50-day moving average of $6.65 and a two-hundred day moving average of $5.81. Nokia Corporation has a one year low of $4.00 and a one year high of $8.19.

Nokia Company Profile

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.