Blue Trust Inc. Has $327,000 Holdings in Nokia Corporation $NOK

Blue Trust Inc. raised its stake in Nokia Corporation (NYSE:NOK) by 25.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,126 shares of the technology company’s stock after buying an additional 12,900 shares during the quarter. Blue Trust Inc.’s holdings in Nokia were worth $327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of Nokia by 8.7% in the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Nokia in the 1st quarter valued at $45,207,000. Deutsche Bank AG raised its position in Nokia by 129.4% in the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after buying an additional 4,835,005 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Nokia by 6.2% in the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock valued at $20,573,000 after purchasing an additional 228,030 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Nokia by 41.0% in the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company’s stock valued at $19,540,000 after purchasing an additional 1,078,476 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday, July 29th. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Wednesday, September 3rd. Finally, BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nokia presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.52.

Nokia Stock Performance

NYSE:NOK opened at $5.25 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The business has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $4.86. Nokia Corporation has a 1 year low of $3.91 and a 1 year high of $5.48. The company has a market capitalization of $28.22 billion, a P/E ratio of 26.23 and a beta of 0.85.

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). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts expect that Nokia Corporation will post 0.34 earnings per share for the current year.

About Nokia

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.