Nokia (NYSE:NOK) Rating Increased to Neutral at The Goldman Sachs Group

Nokia (NYSE:NOK) was upgraded by The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently commented on NOK. Kepler Capital Markets raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Danske lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley began coverage on shares of Nokia in a research report on Monday, February 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.01.

Nokia Stock Down 0.2%

Shares of NOK stock opened at $7.97 on Monday. The stock has a 50 day moving average of $7.47 and a 200 day moving average of $6.53. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market cap of $45.74 billion, a P/E ratio of 61.27, a P/E/G ratio of 2.76 and a beta of 0.80. Nokia has a twelve month low of $4.00 and a twelve month high of $8.82.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Analog Century Management LP purchased a new position in shares of Nokia during the 4th quarter valued at approximately $104,244,000. Arrowstreet Capital Limited Partnership increased its holdings in Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after acquiring an additional 12,619,099 shares during the period. Pzena Investment Management LLC raised its position in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after acquiring an additional 11,667,677 shares during the period. Finally, Alyeska Investment Group L.P. lifted 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 valued at $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

About Nokia

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.