Virtu Financial LLC Acquires New Stake in Nokia Corporation $NOK

Virtu Financial LLC acquired a new stake in Nokia Corporation (NYSE:NOK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 176,451 shares of the technology company’s stock, valued at approximately $1,142,000.

A number of other large investors have also modified their holdings of the business. Analog Century Management LP purchased a new stake in Nokia during the 4th quarter valued at about $104,244,000. QRG Capital Management Inc. lifted its stake in Nokia by 34.6% in the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock worth $3,493,000 after purchasing an additional 138,935 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Nokia during the 3rd quarter worth approximately $4,595,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Nokia in the third quarter valued at approximately $11,910,000. Finally, Pzena Investment Management LLC increased 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. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Trading Up 0.2%

Shares of Nokia stock opened at $13.51 on Friday. The stock has a 50 day moving average of $13.22 and a 200 day moving average of $9.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. The firm has a market capitalization of $77.60 billion, a price-to-earnings ratio of 84.47, a PEG ratio of 2.62 and a beta of 1.15. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $17.45.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and an average target price of $12.57.

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.