Quantinno Capital Management LP Acquires 286,749 Shares of Nokia Corporation $NOK

Quantinno Capital Management LP raised its holdings in Nokia Corporation (NYSE:NOK) by 105.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 557,755 shares of the technology company’s stock after purchasing an additional 286,749 shares during the quarter. Quantinno Capital Management LP’s holdings in Nokia were worth $4,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of 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 in the last quarter. Wexford Capital LP acquired a new position in Nokia during the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in Nokia during the 3rd quarter worth about $34,000. Smithfield Trust Co acquired a new stake in Nokia in the 4th quarter valued at about $35,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Nokia by 86.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,994 shares of the technology company’s stock worth $39,000 after acquiring an additional 2,773 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NOK shares. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Friday, May 15th. JPMorgan Chase & Co. increased their price objective on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Barclays restated an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, Danske raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Price Performance

NOK opened at $9.37 on Friday. The company has a fifty day moving average price of $12.25 and a two-hundred day moving average price of $10.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. Nokia Corporation has a 52 week low of $4.07 and a 52 week high of $17.45. The firm has a market capitalization of $53.78 billion, a PE ratio of 66.89, a P/E/G ratio of 1.11 and a beta of 1.19.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company earned $0.04 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that Nokia Corporation will post 0.39 earnings per share for the current year.

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.