Quantinno Capital Management LP Has $4.48 Million Stock Holdings in Nokia Corporation $NOK

Quantinno Capital Management LP lifted its position in shares of Nokia Corporation (NYSE:NOK) by 105.8% during the first quarter, HoldingsChannel reports. The firm owned 557,755 shares of the technology company’s stock after buying an additional 286,749 shares during the quarter. Quantinno Capital Management LP’s holdings in Nokia were worth $4,484,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NOK. Fifth Third Bancorp grew its stake in Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after acquiring an additional 2,721 shares during the period. Smithfield Trust Co acquired a new stake in shares of Nokia during the fourth quarter worth about $35,000. Wexford Capital LP acquired a new stake in shares of Nokia during the third quarter worth about $29,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Nokia by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,994 shares of the technology company’s stock valued at $39,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of Nokia in the 4th quarter valued at approximately $40,000. Institutional investors own 5.28% of the company’s stock.

Nokia Trading Down 0.7%

NYSE:NOK opened at $9.37 on Friday. Nokia Corporation has a twelve month low of $4.07 and a twelve month high of $17.45. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $12.25 and a two-hundred day moving average price of $10.45. The company has a market cap of $53.78 billion, a P/E ratio of 66.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. As a group, analysts expect that Nokia Corporation will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NOK shares. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Northland Securities set a $20.00 price objective on shares of Nokia in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Finally, Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Monday, April 27th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nokia presently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Nokia Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel?Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.