iA Global Asset Management Inc. Takes $6.29 Million Position in Nokia Corporation $NOK

iA Global Asset Management Inc. acquired a new position in shares of Nokia Corporation (NYSE:NOK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 782,880 shares of the technology company’s stock, valued at approximately $6,294,000.

Several other institutional investors have also recently bought and sold shares of NOK. Pzena Investment Management LLC raised its holdings in shares of Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after purchasing an additional 11,612,590 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Nokia by 9.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after purchasing an additional 3,896,363 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Nokia by 171.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the last quarter. Analog Century Management LP bought a new position in Nokia in the fourth quarter valued at $104,244,000. Finally, Thrivent Financial for Lutherans grew its position in Nokia by 14.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,489,705 shares of the technology company’s stock valued at $93,749,000 after purchasing an additional 1,834,562 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NOK shares. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, April 27th. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a research report on Monday, April 13th. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Finally, Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Nokia Stock Performance

Shares of NOK stock opened at $12.91 on Thursday. The stock has a market cap of $74.13 billion, a P/E ratio of 80.69, a P/E/G ratio of 2.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The company has a fifty day moving average price of $13.76 and a two-hundred day moving average price of $9.72. Nokia Corporation has a one year low of $4.00 and a one year high of $17.45.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The company had revenue of $5.21 billion during the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. As a group, equities analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Profile

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.