Ariose Capital Management Ltd Purchases New Position in Nokia Corporation $NOK

Ariose Capital Management Ltd acquired a new position in shares of Nokia Corporation (NYSE:NOK) during the 1st quarter, Holdings Channel.com reports. The firm acquired 598,086 shares of the technology company’s stock, valued at approximately $4,809,000. Nokia accounts for 3.2% of Ariose Capital Management Ltd’s holdings, making the stock its 7th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Analog Century Management LP purchased a new stake in shares of Nokia in the 4th quarter worth approximately $104,244,000. QRG Capital Management Inc. increased its holdings in Nokia by 34.6% during the fourth quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after buying an additional 138,935 shares during the period. Jefferies Financial Group Inc. purchased a new position in Nokia during the third quarter valued at approximately $4,595,000. Polar Asset Management Partners Inc. bought a new position in Nokia in the third quarter worth approximately $11,910,000. Finally, Pzena Investment Management LLC lifted its holdings in Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after buying an additional 11,612,590 shares during the period. 5.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOK has been the topic of a number of analyst reports. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their target price on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, Northland Securities set a $20.00 target price on shares of Nokia in a research report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.57.

Nokia Trading Down 0.1%

Shares of NOK stock opened at $12.06 on Friday. 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 market cap of $69.25 billion, a price-to-earnings ratio of 75.38, a PEG ratio of 2.36 and a beta of 1.17. The stock has a 50 day simple moving average of $13.84 and a 200-day simple moving average of $9.78. Nokia Corporation has a 1-year low of $4.00 and a 1-year high of $17.45.

Nokia (NYSE:NOK) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. On average, equities research analysts expect that Nokia Corporation will post 0.4 EPS for the current fiscal 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.