Dorsey Wright & Associates Buys Shares of 283,143 Nokia Corporation $NOK

Dorsey Wright & Associates purchased a new position in shares of Nokia Corporation (NYSE:NOK) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 283,143 shares of the technology company’s stock, valued at approximately $1,467,000.

Other large investors have also recently added to or reduced their stakes in the company. Wealthquest Corp acquired a new position in Nokia during the first quarter worth about $27,000. Harbour Investments Inc. increased its stake in shares of Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after purchasing an additional 5,003 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Nokia during the 2nd quarter worth approximately $34,000. Assetmark Inc. lifted its stake in Nokia by 763.7% in the 1st 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, First Horizon Advisors Inc. grew its holdings in Nokia by 677.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company’s stock valued at $44,000 after buying an additional 7,394 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Price Performance

NOK opened at $6.65 on Wednesday. Nokia Corporation has a 1 year low of $3.91 and a 1 year high of $8.19. The company’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $5.13. The stock has a market capitalization of $35.76 billion, a PE ratio of 36.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. Nokia’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. As a group, sell-side analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOK. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Northland Securities set a $7.50 price objective on shares of Nokia in a research note on Friday, October 24th. Finally, 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 research note on Wednesday, September 3rd. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nokia currently has a consensus rating of “Moderate Buy” and an average target price of $5.87.

Nokia 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.