First Trust Advisors LP reduced its stake in Nokia Corp. (NYSE:NOK) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,008 shares of the technology company’s stock after selling 6,478 shares during the period. First Trust Advisors LP’s holdings in Nokia Corp. were worth $1,309,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of NOK. Societe Generale bought a new stake in Nokia Corp. during the second quarter valued at $924,000. Bank of Montreal Can bought a new stake in Nokia Corp. during the second quarter valued at $454,000. Stoneridge Investment Partners LLC increased its stake in Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock valued at $3,749,000 after buying an additional 98,194 shares during the last quarter. World Asset Management Inc increased its stake in Nokia Corp. by 8.3% in the second quarter. World Asset Management Inc now owns 358,217 shares of the technology company’s stock valued at $2,038,000 after buying an additional 27,571 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in Nokia Corp. during the second quarter valued at $101,000. 4.28% of the stock is owned by institutional investors and hedge funds.
Shares of Nokia Corp. (NYSE:NOK) traded up 1.22% during midday trading on Friday, reaching $5.79. The company’s stock had a trading volume of 8,956,896 shares. Nokia Corp. has a 12 month low of $5.01 and a 12 month high of $7.63. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 31.81 and a beta of 1.49. The company has a 50-day moving average price of $5.68 and a 200-day moving average price of $5.70.
Nokia Corp. (NYSE:NOK) last issued its earnings results on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $0.09 EPS. Nokia Corp.’s quarterly revenue was up 91.3% on a year-over-year basis. Equities analysts expect that Nokia Corp. will post $0.20 earnings per share for the current year.
Several equities research analysts recently weighed in on NOK shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Nokia Corp. in a report on Thursday, September 8th. Vetr cut shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target on the stock. in a research report on Monday, July 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Zacks Investment Research cut shares of Nokia Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Nokia Corp. in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $7.18.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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