Bowen Hanes & Co. Inc. lowered its position in shares of Nokia Corporation (NYSE:NOK) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,844,575 shares of the technology company’s stock after selling 29,500 shares during the period. Nokia Corporation comprises 1.5% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 25th largest position. Bowen Hanes & Co. Inc.’s holdings in Nokia Corporation were worth $29,843,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Ariel Investments LLC raised its stake in shares of Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock worth $175,462,000 after buying an additional 5,650,498 shares during the period. Alliancebernstein L.P. raised its stake in shares of Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after buying an additional 10,817,897 shares during the period. Wellington Management Group LLP raised its stake in shares of Nokia Corporation by 23.6% in the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock worth $66,145,000 after buying an additional 2,331,892 shares during the period. Brandes Investment Partners LP raised its stake in shares of Nokia Corporation by 6.7% in the first quarter. Brandes Investment Partners LP now owns 11,469,670 shares of the technology company’s stock worth $62,166,000 after buying an additional 717,676 shares during the period. Finally, Stelliam Investment Management LP bought a new stake in shares of Nokia Corporation during the first quarter worth $34,268,000. 5.91% of the stock is currently owned by hedge funds and other institutional investors.
Nokia Corporation (NYSE NOK) opened at 6.52 on Friday. The firm’s market cap is $36.85 billion. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65. The firm has a 50 day moving average of $6.30 and a 200-day moving average of $5.68.
Nokia Corporation (NYSE:NOK) last issued its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts forecast that Nokia Corporation will post $0.29 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on NOK shares. Societe Generale started coverage on shares of Nokia Corporation in a report on Wednesday, June 14th. They set a “buy” rating on the stock. Credit Suisse Group reissued a “neutral” rating on shares of Nokia Corporation in a report on Sunday, July 30th. Canaccord Genuity reissued a “hold” rating and set a $6.00 price objective on shares of Nokia Corporation in a report on Monday, May 15th. Citigroup Inc. started coverage on shares of Nokia Corporation in a report on Thursday, June 8th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, BidaskClub lowered shares of Nokia Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.24.
About Nokia Corporation
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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