Philadelphia Trust Co. Makes New Investment in Nokia Corporation $NOK

Philadelphia Trust Co. purchased a new stake in shares of Nokia Corporation (NYSE:NOK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 226,610 shares of the technology company’s stock, valued at approximately $2,298,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ARGA Investment Management LP raised its position in shares of Nokia by 364.5% in the third quarter. ARGA Investment Management LP now owns 21,815,690 shares of the technology company’s stock worth $221,211,000 after acquiring an additional 17,119,411 shares during the period. Renaissance Technologies LLC grew its position in shares of Nokia by 131.3% during the 1st quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock valued at $106,890,000 after acquiring an additional 7,546,000 shares during the period. Annex Advisory Services LLC grew its position in shares of Nokia by 1,710.9% during the 3rd quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock valued at $45,309,000 after acquiring an additional 4,221,629 shares during the period. Troluce Capital Advisors LLC purchased a new position in shares of Nokia in the 1st quarter valued at about $20,100,000. Finally, Atreides Management LP purchased a new position in shares of Nokia in the 1st quarter valued at about $19,955,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Monday, July 27th. JPMorgan Chase & Co. dropped their price objective on Nokia from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Friday, October 23rd. B. Riley Financial assumed coverage on Nokia in a research report on Thursday, September 17th. They issued a “buy” rating and a $15.00 price objective for the company. Sanford C. Bernstein restated a “neutral” rating on shares of Nokia in a research report on Thursday, July 23rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, October 23rd. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $13.41.

Nokia Stock Up 0.9%

Shares of NYSE NOK opened at $8.26 on Wednesday. The firm has a market cap of $47.40 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.24. The company’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $10.29. The company has a quick ratio of 1.19, a current ratio of 1.47 and a debt-to-equity ratio of 0.09. Nokia Corporation has a 52-week low of $5.86 and a 52-week high of $17.45.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that Nokia Corporation will post 0.39 EPS for the current fiscal year.

About Nokia

Nokia is a Finland-based technology company focused on communications networks and related services. Its offerings include mobile and fixed network infrastructure, IP and optical networking, cloud and network software, and private wireless solutions for businesses and public-sector organizations. The company serves communications service providers, enterprises, governments and other customers around the world. It also develops and licenses technology and intellectual property, including through its patent-licensing business.