First Trust Advisors LP lowered its stake in shares of Nokia Corporation (NYSE:NOK) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 528,760 shares of the technology company’s stock after selling 162,959 shares during the quarter. First Trust Advisors LP’s holdings in Nokia were worth $3,162,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NOK. Institute for Wealth Management LLC. bought a new position in Nokia during the second quarter worth about $116,000. Geneva Advisors LLC purchased a new stake in Nokia in the second quarter valued at approximately $125,000. Cutter & CO Brokerage Inc. raised its stake in Nokia by 8.5% in the second quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock valued at $142,000 after purchasing an additional 1,801 shares in the last quarter. CIBC World Markets Inc. raised its stake in Nokia by 26.7% in the second quarter. CIBC World Markets Inc. now owns 26,594 shares of the technology company’s stock valued at $164,000 after purchasing an additional 5,610 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Nokia by 71.4% in the second quarter. IFP Advisors Inc now owns 29,098 shares of the technology company’s stock valued at $179,000 after purchasing an additional 12,122 shares in the last quarter. Institutional investors own 5.89% of the company’s stock.
Several research analysts have commented on the stock. Vetr raised shares of Nokia from a “buy” rating to a “strong-buy” rating and set a $7.22 price target on the stock in a research note on Wednesday, August 9th. Canaccord Genuity cut their price target on shares of Nokia from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, October 27th. UBS restated a “buy” rating on shares of Nokia in a report on Wednesday, September 20th. Zacks Investment Research cut shares of Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Nokia in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.72.
Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Nokia had a positive return on equity of 9.88% and a negative net margin of 2.09%. The business had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the company earned $0.04 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. equities research analysts forecast that Nokia Corporation will post 0.33 earnings per share for the current fiscal year.
Nokia Company Profile
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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