Floyd Financial Group LLC Acquires New Holdings in Nokia Corporation $NOK

Floyd Financial Group LLC bought a new stake in Nokia Corporation (NYSE:NOK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 78,567 shares of the technology company’s stock, valued at approximately $508,000.

Other large investors also recently added to or reduced their stakes in the company. Analog Century Management LP bought a new position in shares of Nokia in the 4th quarter valued at approximately $104,244,000. QRG Capital Management Inc. boosted its position in Nokia by 34.6% during the fourth 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 during the period. Jefferies Financial Group Inc. acquired 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 shares of Nokia in the third quarter valued at approximately $11,910,000. Finally, Pzena Investment Management LLC raised its position 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 period. 5.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Northland Securities set a $20.00 price target on Nokia in a research report on Wednesday, June 3rd. Finally, Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Nokia has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Stock Down 2.3%

Shares of NOK opened at $13.51 on Friday. 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 company has a 50-day simple moving average of $13.13 and a 200-day simple moving average of $9.26. Nokia Corporation has a 52 week low of $4.00 and a 52 week high of $17.45. The firm has a market capitalization of $77.60 billion, a P/E ratio of 84.47, a P/E/G ratio of 2.69 and a beta of 1.15.

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