Flippin Bruce & Porter Inc. raised its position in shares of Nokia Oyj (NYSE:NOK) by 307.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,345,712 shares of the technology company’s stock after buying an additional 1,015,465 shares during the quarter. Flippin Bruce & Porter Inc.’s holdings in Nokia Oyj were worth $6,809,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new position in shares of Nokia Oyj in the 2nd quarter worth approximately $150,436,000. Primecap Management Co. CA acquired a new position in shares of Nokia Oyj during the second quarter worth $36,216,000. Advisors Capital Management LLC acquired a new position in shares of Nokia Oyj during the second quarter worth $27,977,000. Bamco Inc. NY lifted its holdings in shares of Nokia Oyj by 36.0% during the 2nd quarter. Bamco Inc. NY now owns 14,556,093 shares of the technology company’s stock valued at $72,926,000 after purchasing an additional 3,853,141 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Nokia Oyj by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 17,464,016 shares of the technology company’s stock valued at $87,493,000 after purchasing an additional 2,139,116 shares during the last quarter. Institutional investors and hedge funds own 7.49% of the company’s stock.
Shares of NYSE NOK remained flat at $$3.57 during mid-day trading on Friday. The company had a trading volume of 20,832,366 shares, compared to its average volume of 25,559,217. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 13.22 and a beta of 0.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.05 and a current ratio of 1.34. The stock’s fifty day moving average price is $4.60 and its 200 day moving average price is $5.01. Nokia Oyj has a 52-week low of $3.50 and a 52-week high of $6.65.
Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Nokia Oyj had a negative net margin of 1.57% and a positive return on equity of 7.64%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities research analysts expect that Nokia Oyj will post 0.22 EPS for the current fiscal year.
NOK has been the topic of several research analyst reports. Barclays downgraded Nokia Oyj from an “overweight” rating to an “equal weight” rating and set a $3.50 target price on the stock. in a research note on Friday, October 25th. MKM Partners lowered their price target on Nokia Oyj from $7.50 to $5.50 and set a “buy” rating for the company in a report on Friday, October 25th. ValuEngine upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. downgraded shares of Nokia Oyj from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.50 to $4.20 in a report on Friday, October 25th. Finally, DZ Bank lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating and set a $3.90 price objective for the company. in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Nokia Oyj presently has a consensus rating of “Buy” and an average target price of $5.20.
Nokia Oyj Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).
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