Russell Investments Group Ltd. Acquires 450,443 Shares of Nokia Corporation $NOK

Russell Investments Group Ltd. increased its holdings in Nokia Corporation (NYSE:NOK) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,946,684 shares of the technology company’s stock after acquiring an additional 450,443 shares during the period. Russell Investments Group Ltd.’s holdings in Nokia were worth $23,794,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NOK. Penserra Capital Management LLC increased its holdings in Nokia by 38.0% during the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after purchasing an additional 2,136,545 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Nokia in the third quarter valued at approximately $4,595,000. Thrivent Financial for Lutherans boosted its position in shares of Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after buying an additional 12,619,099 shares during the last quarter. TSP Capital Management Group LLC grew its holdings in Nokia by 8.8% during the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company’s stock worth $11,898,000 after buying an additional 200,400 shares in the last quarter. Finally, Folketrygdfondet raised its position in Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after buying an additional 6,950,487 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Price Performance

Shares of NYSE:NOK opened at $8.14 on Friday. The company has a market capitalization of $46.71 billion, a P/E ratio of 62.58, a price-to-earnings-growth ratio of 2.88 and a beta of 0.80. The company’s 50-day moving average is $7.09 and its 200 day moving average is $6.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $8.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Kepler Capital Markets raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Danske lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Monday, December 22nd. Finally, New Street Research set a $6.57 price objective on shares of Nokia in a research report on Thursday, November 20th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.01.

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.