Nokia Corporation $NOK Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of Nokia Corporation (NYSE:NOK) by 23.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,829 shares of the technology company’s stock after purchasing an additional 10,724 shares during the quarter. Ritholtz Wealth Management’s holdings in Nokia were worth $289,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NOK. Acadian Asset Management LLC acquired a new stake in shares of Nokia during the first quarter worth $45,207,000. Deutsche Bank AG lifted its holdings in Nokia by 129.4% in the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after acquiring an additional 4,835,005 shares during the period. Millennium Management LLC lifted its holdings in Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after acquiring an additional 2,798,758 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Nokia in the second quarter valued at $14,260,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Nokia in the first quarter valued at $7,926,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NOK shares. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. JPMorgan Chase & Co. reduced their target price on Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a report on Wednesday, October 8th. Finally, BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.32.

Nokia Trading Down 0.6%

Shares of NOK stock opened at $5.71 on Tuesday. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.79. The stock has a market cap of $30.70 billion, a P/E ratio of 28.53 and a beta of 0.85. The business has a fifty day simple moving average of $4.70 and a 200-day simple moving average of $4.87. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business earned $0.06 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.