Morgan Stanley Boosts Stake in Nokia Corporation (NYSE:NOK)

Morgan Stanley boosted its stake in Nokia Corporation (NYSE:NOK) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,547,509 shares of the technology company’s stock after buying an additional 342,271 shares during the period. Morgan Stanley’s holdings in Nokia Corporation were worth $13,807,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cutter & CO Brokerage Inc. raised its position in shares of Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock valued at $115,000 after buying an additional 2,700 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Nokia Corporation during the first quarter valued at about $136,000. Searle & CO. purchased a new position in shares of Nokia Corporation during the fourth quarter valued at about $145,000. Checchi Capital Advisers LLC raised its position in shares of Nokia Corporation by 32.4% in the first quarter. Checchi Capital Advisers LLC now owns 29,870 shares of the technology company’s stock valued at $162,000 after buying an additional 7,306 shares in the last quarter. Finally, Usca Ria LLC raised its position in shares of Nokia Corporation by 15.1% in the first quarter. Usca Ria LLC now owns 31,475 shares of the technology company’s stock valued at $171,000 after buying an additional 4,125 shares in the last quarter. 5.87% of the stock is owned by hedge funds and other institutional investors.

Nokia Corporation (NOK) opened at 6.22 on Thursday. The stock’s market capitalization is $35.35 billion. Nokia Corporation has a 1-year low of $4.04 and a 1-year high of $6.65. The stock has a 50 day moving average price of $6.34 and a 200-day moving average price of $5.58.

Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, April 27th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corporation had a negative net margin of 2.82% and a positive return on equity of 6.57%. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company earned $0.03 earnings per share. Nokia Corporation’s revenue was down 3.8% on a year-over-year basis. Equities research analysts expect that Nokia Corporation will post $0.25 EPS for the current year.

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Several research analysts have recently issued reports on the company. Zacks Investment Research lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Vetr lowered Nokia Corporation from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a research report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Nokia Corporation in a research report on Thursday, April 27th. BMO Capital Markets reissued a “market perform” rating on shares of Nokia Corporation in a research report on Friday, June 16th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $6.00 target price on shares of Nokia Corporation in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Nokia Corporation has a consensus rating of “Hold” and a consensus price target of $6.26.

About Nokia Corporation

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

Institutional Ownership by Quarter for Nokia Corporation (NYSE:NOK)

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