Huntington National Bank raised its holdings in Nokia Oyj (NYSE:NOK) by 161.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,672 shares of the technology company’s stock after purchasing an additional 6,583 shares during the quarter. Huntington National Bank’s holdings in Nokia Oyj were worth $39,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NOK. Nuveen Asset Management LLC acquired a new stake in shares of Nokia Oyj in the 2nd quarter valued at $150,436,000. Primecap Management Co. CA acquired a new stake in shares of Nokia Oyj in the 2nd quarter valued at $36,216,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Nokia Oyj in the 1st quarter valued at $9,420,000. Flippin Bruce & Porter Inc. boosted its holdings in shares of Nokia Oyj by 307.5% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 1,345,712 shares of the technology company’s stock valued at $6,809,000 after purchasing an additional 1,015,465 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Nokia Oyj by 14.3% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 6,928,564 shares of the technology company’s stock valued at $34,712,000 after purchasing an additional 867,531 shares in the last quarter. 6.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on NOK. Charter Equity reaffirmed a “hold” rating on shares of Nokia Oyj in a report on Thursday. Barclays downgraded Nokia Oyj from an “overweight” rating to an “equal weight” rating and set a $3.50 price objective on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. downgraded Nokia Oyj from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.50 to $4.20 in a report on Friday, October 25th. Credit Suisse Group downgraded Nokia Oyj from an “outperform” rating to a “neutral” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity reissued a “buy” rating and set a $5.50 price objective on shares of Nokia Oyj in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $4.67.
NYSE NOK opened at $4.37 on Friday. The company has a market cap of $23.53 billion, a price-to-earnings ratio of -437,000.00 and a beta of 0.23. Nokia Oyj has a twelve month low of $3.33 and a twelve month high of $6.42. The business’s fifty day moving average is $3.92 and its 200 day moving average is $4.39. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.33.
Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, February 6th. The technology company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.38 billion. Nokia Oyj had a positive return on equity of 8.31% and a negative net margin of 0.03%. On average, research analysts anticipate that Nokia Oyj will post 0.28 earnings per share for the current fiscal year.
About Nokia Oyj
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).
