Philadelphia Trust Co. Acquires 226,610 Shares of Nokia Corporation $NOK

Philadelphia Trust Co. acquired a new stake in Nokia Corporation (NYSE:NOK) during the third quarter, Holdings Channel reports. The fund acquired 226,610 shares of the technology company’s stock, valued at approximately $2,298,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Syon Capital LLC grew its holdings in shares of Nokia by 12.7% during the second quarter. Syon Capital LLC now owns 11,730 shares of the technology company’s stock worth $156,000 after buying an additional 1,321 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after buying an additional 1,591 shares in the last quarter. JGP Wealth Management LLC lifted its stake in shares of Nokia by 12.0% in the third quarter. JGP Wealth Management LLC now owns 15,816 shares of the technology company’s stock worth $160,000 after buying an additional 1,698 shares in the last quarter. Lido Advisors LLC boosted its position in Nokia by 9.2% during the third quarter. Lido Advisors LLC now owns 20,651 shares of the technology company’s stock worth $209,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Burford Brothers Inc. boosted its position in Nokia by 9.2% during the second quarter. Burford Brothers Inc. now owns 21,950 shares of the technology company’s stock worth $291,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Performance

NYSE:NOK opened at $8.26 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.47 and a quick ratio of 1.19. The firm has a market capitalization of $47.40 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 1.34 and a beta of 1.24. The company’s 50-day moving average is $9.66 and its two-hundred day moving average is $10.29. Nokia Corporation has a 1-year low of $5.86 and a 1-year high of $17.45.

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

Analysts Set New Price Targets

Several analysts recently issued reports on NOK shares. S&P Equity Research reaffirmed a “positive” rating on shares of Nokia in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Nokia in a research report on Tuesday, September 29th. Rosenblatt Securities lowered their price objective on Nokia from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Citigroup restated a “buy” rating on shares of Nokia in a report on Friday, October 23rd. Finally, B. Riley Financial began coverage on Nokia in a research note on Thursday, September 17th. They issued a “buy” rating and a $15.00 target price for the company. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and an average target price of $13.41.

About Nokia

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.