261,889 Shares in Nokia Corporation $NOK Acquired by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC acquired a new stake in Nokia Corporation (NYSE:NOK) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 261,889 shares of the technology company’s stock, valued at approximately $2,106,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after buying an additional 2,721 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Nokia in the third quarter worth about $29,000. FNY Investment Advisers LLC boosted its position in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management acquired a new position in Nokia during the fourth quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nokia during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

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, July 1st. Barclays restated an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Finally, Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a report on Monday, April 13th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Nokia Price Performance

NOK stock opened at $9.11 on Friday. The business’s fifty day moving average price is $12.85 and its 200 day moving average price is $10.35. Nokia Corporation has a 12-month low of $4.00 and a 12-month high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $52.32 billion, a PE ratio of 65.09, a P/E/G ratio of 1.03 and a beta of 1.17.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.Nokia’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. On average, sell-side analysts anticipate that Nokia Corporation will post 0.41 EPS 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.