Jupiter Asset Management Ltd. Cuts Position in Nokia Corporation $NOK

Jupiter Asset Management Ltd. decreased its holdings in Nokia Corporation (NYSE:NOK) by 40.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 130,000 shares of the technology company’s stock after selling 86,593 shares during the period. Jupiter Asset Management Ltd.’s holdings in Nokia were worth $841,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after buying an additional 2,721 shares during the period. FNY Investment Advisers LLC raised its holdings in Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock valued at $30,000 after buying an additional 4,684 shares during the period. Dorato Capital Management purchased a new position in Nokia in the fourth quarter valued at approximately $31,000. Smithfield Trust Co purchased a new position in Nokia in the fourth quarter valued at approximately $35,000. Finally, Wexford Capital LP purchased a new position in Nokia in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Trading Down 3.1%

NOK opened at $14.80 on Friday. The firm has a market capitalization of $84.99 billion, a P/E ratio of 92.51, a P/E/G ratio of 2.87 and a beta of 1.12. The firm’s 50 day moving average is $11.32 and its 200-day moving average is $8.41. Nokia Corporation has a 52-week low of $4.00 and a 52-week high of $16.63. The company has a quick ratio of 1.36, a current ratio of 1.57 and a debt-to-equity ratio of 0.11.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on NOK. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a research note on Monday, April 13th. Finally, Santander upgraded shares of Nokia from a “neutral” rating to an “outperform” rating in a research note on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.71.

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.