Corient Private Wealth LLC Boosts Stock Holdings in Nokia Corporation $NOK

Corient Private Wealth LLC raised its position in shares of Nokia Corporation (NYSE:NOK) by 41.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 168,328 shares of the technology company’s stock after acquiring an additional 49,649 shares during the quarter. Corient Private Wealth LLC’s holdings in Nokia were worth $1,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NOK. Floyd Financial Group LLC purchased a new position in Nokia in the 4th quarter valued at $508,000. Virtu Financial LLC purchased a new position in shares of Nokia in the fourth quarter worth about $1,142,000. Compound Planning Inc. boosted its position in Nokia by 21.8% during the fourth quarter. Compound Planning Inc. now owns 55,871 shares of the technology company’s stock worth $361,000 after acquiring an additional 9,986 shares during the last quarter. Invesco Ltd. grew its stake in Nokia by 18.7% during the 4th quarter. Invesco Ltd. now owns 68,602 shares of the technology company’s stock valued at $444,000 after acquiring an additional 10,789 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in Nokia by 11.8% in the 4th quarter. Vident Advisory LLC now owns 271,634 shares of the technology company’s stock valued at $1,757,000 after acquiring an additional 28,696 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Trading Down 6.6%

Shares of Nokia stock opened at $12.06 on Friday. The firm has a market capitalization of $69.25 billion, a price-to-earnings ratio of 75.38, a PEG ratio of 2.51 and a beta of 1.17. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $17.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. The stock has a 50 day moving average of $13.79 and a 200 day moving average of $9.76.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Nokia has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Company Profile

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.