Capstone Capital Management Ltd Buys 57,990 Shares of Nokia Corporation $NOK

Capstone Capital Management Ltd increased its stake in shares of Nokia Corporation (NYSE:NOK) by 50.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,357 shares of the technology company’s stock after acquiring an additional 57,990 shares during the period. Nokia comprises about 0.7% of Capstone Capital Management Ltd’s portfolio, making the stock its 29th largest position. Capstone Capital Management Ltd’s holdings in Nokia were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of Nokia by 1,152.7% during the 2nd quarter. IFP Advisors Inc now owns 7,942 shares of the technology company’s stock worth $105,000 after purchasing an additional 7,308 shares during the last quarter. Gateway Wealth Partners LLC bought a new position in shares of Nokia in the 1st quarter valued at $81,000. Waverly Advisors LLC bought a new stake in shares of Nokia in the 1st quarter valued at about $82,000. Foster Group Inc. acquired a new stake in Nokia during the 2nd quarter worth about $138,000. Finally, Wedmont Private Capital acquired a new stake in Nokia in the third quarter worth $110,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Down 0.7%

NOK opened at $9.02 on Wednesday. The firm’s 50 day simple moving average is $10.23 and its two-hundred day simple moving average is $11.46. The company has a market capitalization of $51.77 billion, a PE ratio of 21.62, a PEG ratio of 1.08 and a beta of 1.19. Nokia Corporation has a 1-year low of $5.45 and a 1-year high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%. The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm earned $0.04 EPS. Nokia’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Nokia Corporation will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOK. Barclays reaffirmed a “sell” rating on shares of Nokia in a research report on Monday, June 29th. B. Riley Financial began coverage on shares of Nokia in a report on Thursday, September 17th. They set a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia in a research note on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Monday, July 27th. Finally, Rosenblatt Securities started coverage on Nokia in a research report on Tuesday, September 15th. They issued a “buy” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.57.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.