Beverly Hills Private Wealth LLC Acquires New Position in Nokia Corporation $NOK

Beverly Hills Private Wealth LLC acquired a new stake in Nokia Corporation (NYSE:NOK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,749 shares of the technology company’s stock, valued at approximately $180,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthquest Corp purchased a new position in Nokia in the first quarter valued at about $27,000. Harbour Investments Inc. increased its holdings in Nokia by 7,046.5% in the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after buying an additional 5,003 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after buying an additional 2,651 shares in the last quarter. Assetmark Inc. increased its holdings in Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after buying an additional 7,286 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Nokia in the first quarter valued at about $51,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analysts Set New Price Targets

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

Nokia Price Performance

NYSE:NOK opened at $5.59 on Wednesday. The firm has a market cap of $30.08 billion, a price-to-earnings ratio of 27.95 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $4.72 and its two-hundred day moving average is $4.88. Nokia Corporation has a 12-month low of $3.91 and a 12-month high of $5.79.

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

Nokia Company Profile

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.