Dynamic Technology Lab Private Ltd acquired a new position in Nokia Corporation (NYSE:NOK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,946 shares of the technology company’s stock, valued at approximately $215,000.
Several other large investors have also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Nokia Corporation by 53.3% in the second 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 during the last quarter. Northern Trust Corp grew its holdings in Nokia Corporation by 0.6% during the second quarter. Northern Trust Corp now owns 5,811,715 shares of the technology company’s stock worth $35,801,000 after acquiring an additional 34,906 shares during the period. Tocqueville Asset Management L.P. grew its holdings in Nokia Corporation by 8.7% during the second quarter. Tocqueville Asset Management L.P. now owns 3,426,846 shares of the technology company’s stock worth $21,109,000 after acquiring an additional 275,446 shares during the period. Renaissance Technologies LLC grew its holdings in Nokia Corporation by 705.5% during the second quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock worth $20,506,000 after acquiring an additional 2,915,600 shares during the period. Finally, FMR LLC grew its holdings in Nokia Corporation by 2.5% during the second quarter. FMR LLC now owns 2,995,663 shares of the technology company’s stock worth $18,453,000 after acquiring an additional 72,180 shares during the period. Hedge funds and other institutional investors own 5.85% of the company’s stock.
Nokia Corporation (NYSE:NOK) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Nokia Corporation had a negative net margin of 2.09% and a positive return on equity of 9.88%. The business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business earned $0.04 EPS. Nokia Corporation’s quarterly revenue was down 7.0% compared to the same quarter last year.
Several analysts have commented on NOK shares. Argus lowered Nokia Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $4.76 to $4.91 in a report on Monday. Canaccord Genuity dropped their price objective on Nokia Corporation from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, October 27th. J P Morgan Chase & Co reissued a “buy” rating on shares of Nokia Corporation in a report on Friday, October 27th. Vetr raised Nokia Corporation from a “hold” rating to a “buy” rating and set a $6.37 price objective on the stock in a report on Monday, September 25th. Finally, BNP Paribas lowered Nokia Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.75.
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.
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