Arrowstreet Capital Limited Partnership Purchases New Stake in Nokia Corporation (NOK)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Nokia Corporation (NYSE:NOK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,234,782 shares of the technology company’s stock, valued at approximately $13,766,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its position in shares of Nokia Corporation by 39.1% during the second quarter. Moors & Cabot Inc. now owns 260,139 shares of the technology company’s stock worth $1,595,000 after purchasing an additional 73,078 shares in the last quarter. Lenox Wealth Management Inc. bought a new position in shares of Nokia Corporation during the second quarter worth $589,000. Royal Bank of Canada boosted its position in shares of Nokia Corporation by 56.7% during the second quarter. Royal Bank of Canada now owns 1,852,037 shares of the technology company’s stock worth $11,408,000 after purchasing an additional 670,039 shares in the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Nokia Corporation during the second quarter worth $116,000. Finally, Stifel Financial Corp boosted its position in shares of Nokia Corporation by 68.7% during the second quarter. Stifel Financial Corp now owns 181,890 shares of the technology company’s stock worth $1,121,000 after purchasing an additional 74,056 shares in the last quarter. 5.85% of the stock is currently owned by institutional investors.

Shares of Nokia Corporation (NOK) traded down 0.85% on Thursday, hitting $5.83. 2,994,972 shares of the company’s stock were exchanged. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65. The firm’s market cap is $32.95 billion. The stock’s 50 day moving average is $6.06 and its 200 day moving average is $6.07.

Nokia Corporation (NYSE:NOK) last posted its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $5.63 billion during 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 company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. On average, equities analysts predict that Nokia Corporation will post $0.30 earnings per share for the current year.

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A number of equities analysts have recently weighed in on NOK shares. Zacks Investment Research cut shares of Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised shares of Nokia Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Vetr raised shares of Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.08 price objective on the stock in a research report on Wednesday, July 5th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $5.75 price objective on shares of Nokia Corporation in a research report on Thursday, July 6th. Finally, UBS AG reaffirmed a “buy” rating on shares of Nokia Corporation in a research report on Wednesday, September 20th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. Nokia Corporation presently has an average rating of “Hold” and an average price target of $5.86.

Nokia Corporation 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.

Institutional Ownership by Quarter for Nokia Corporation (NYSE:NOK)

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