Nokia Corporation $NOK Shares Bought by Ethic Inc.

Ethic Inc. raised its position in shares of Nokia Corporation (NYSE:NOK) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,313 shares of the technology company’s stock after buying an additional 87,856 shares during the quarter. Ethic Inc.’s holdings in Nokia were worth $4,769,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NOK. ARGA Investment Management LP lifted its position in Nokia by 364.5% in the 3rd quarter. ARGA Investment Management LP now owns 21,815,690 shares of the technology company’s stock valued at $221,211,000 after purchasing an additional 17,119,411 shares during the last quarter. Renaissance Technologies LLC grew its position in Nokia by 131.3% in the 1st quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 7,546,000 shares during the last quarter. Annex Advisory Services LLC grew its position in Nokia by 1,710.9% in the 3rd quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock worth $45,309,000 after purchasing an additional 4,221,629 shares during the last quarter. Atwood & Palmer Inc. increased its stake in shares of Nokia by 0.5% in the third quarter. Atwood & Palmer Inc. now owns 2,470,183 shares of the technology company’s stock valued at $25,048,000 after purchasing an additional 12,888 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of Nokia by 19.2% in the second quarter. Engineers Gate Manager LP now owns 1,864,080 shares of the technology company’s stock valued at $24,755,000 after purchasing an additional 300,807 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOK. JPMorgan Chase & Co. decreased their price target on Nokia from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Friday, October 23rd. B. Riley Financial began coverage on shares of Nokia in a research note on Thursday, September 17th. They set a “buy” rating and a $15.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of Nokia in a report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research report on Monday, July 27th. Finally, Sanford C. Bernstein reiterated a “neutral” rating on shares of Nokia in a report on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.41.

Nokia Stock Up 7.0%

Shares of NYSE:NOK opened at $8.20 on Tuesday. Nokia Corporation has a 52 week low of $5.86 and a 52 week high of $17.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47. The company’s fifty day moving average is $9.70 and its 200-day moving average is $10.28. The company has a market capitalization of $47.06 billion, a PE ratio of 18.36, a P/E/G ratio of 1.35 and a beta of 1.24.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Nokia Profile

Nokia is a Finland-based technology company focused on communications networks and related services. Its offerings include mobile and fixed network infrastructure, IP and optical networking, cloud and network software, and private wireless solutions for businesses and public-sector organizations.

The company serves communications service providers, enterprises, governments and other customers around the world. It also develops and licenses technology and intellectual property, including through its patent-licensing business.

Nokia traces its origins to a pulp mill established in Finland in 1865 and later expanded into several industries before becoming a telecommunications company.