Renaissance Technologies LLC increased its holdings in shares of Nokia Corporation (NYSE:NOK) by 705.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,328,880 shares of the technology company’s stock after buying an additional 2,915,600 shares during the quarter. Renaissance Technologies LLC owned 0.22% of Nokia Corporation worth $20,506,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Stelliam Investment Management LP acquired a new position in Nokia Corporation in the 1st quarter worth about $34,268,000. Teachers Advisors LLC increased its holdings in Nokia Corporation by 53.3% in the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock worth $42,796,000 after purchasing an additional 2,414,440 shares in the last quarter. Wellington Management Group LLP increased its holdings in Nokia Corporation by 23.6% in the 1st quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock worth $66,145,000 after purchasing an additional 2,331,892 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Nokia Corporation by 4,241.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,223,920 shares of the technology company’s stock worth $13,699,000 after purchasing an additional 2,172,693 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Nokia Corporation by 4,433.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,779,080 shares of the technology company’s stock worth $9,643,000 after purchasing an additional 1,739,838 shares in the last quarter. Institutional investors and hedge funds own 5.85% of the company’s stock.
NOK has been the subject of a number of recent research reports. Societe Generale initiated coverage on Nokia Corporation in a report on Wednesday, June 14th. They issued a “buy” rating for the company. BidaskClub raised Nokia Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Vetr cut Nokia Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 target price for the company. in a report on Wednesday, July 12th. UBS AG reaffirmed a “buy” rating on shares of Nokia Corporation in a report on Wednesday, September 20th. Finally, BMO Capital Markets set a $6.00 target price on Nokia Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.86.
Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. On average, analysts predict that Nokia Corporation will post $0.30 EPS for the current fiscal year.
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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