WealthTrust Axiom LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,793 shares of the technology company’s stock, valued at approximately $114,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Executive Wealth Management LLC boosted its stake in Nokia Oyj by 26.9% during the second quarter. Executive Wealth Management LLC now owns 637,429 shares of the technology company’s stock worth $3,194,000 after acquiring an additional 135,299 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Nokia Oyj during the fourth quarter worth about $115,000. Daiwa Securities Group Inc. bought a new stake in Nokia Oyj during the first quarter worth about $520,000. Sawtooth Solutions LLC bought a new stake in Nokia Oyj during the first quarter worth about $498,000. Finally, Keybank National Association OH boosted its stake in Nokia Oyj by 46.5% during the first quarter. Keybank National Association OH now owns 62,033 shares of the technology company’s stock worth $355,000 after acquiring an additional 19,700 shares in the last quarter. Institutional investors own 7.39% of the company’s stock.
Several equities research analysts recently commented on NOK shares. Charter Equity raised shares of Nokia Oyj from a “market perform” rating to a “buy” rating in a research note on Friday, July 26th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. ValuEngine upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Monday, July 29th. Finally, Santander upgraded shares of Nokia Oyj from an “underweight” rating to a “buy” rating in a research note on Monday, July 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $6.83.
Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 25th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.40 billion. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.84%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, analysts expect that Nokia Oyj will post 0.27 EPS for the current fiscal year.
Nokia Oyj Company Profile
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).
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