Blue Trust Inc. Has $327,000 Stock Holdings in Nokia Corporation $NOK

Blue Trust Inc. lifted its holdings in shares of Nokia Corporation (NYSE:NOK) by 25.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,126 shares of the technology company’s stock after purchasing an additional 12,900 shares during the period. Blue Trust Inc.’s holdings in Nokia were worth $327,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in Nokia during the 1st quarter worth about $45,207,000. Deutsche Bank AG lifted its holdings in Nokia by 129.4% during the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock worth $45,179,000 after buying an additional 4,835,005 shares during the period. Millennium Management LLC lifted its stake in shares of Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after acquiring an additional 2,798,758 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Nokia in the second quarter worth approximately $14,260,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Nokia in the first quarter worth approximately $7,926,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Down 1.4%

NOK stock opened at $5.25 on Tuesday. The stock’s 50 day simple moving average is $4.54 and its 200 day simple moving average is $4.86. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The company has a market cap of $28.22 billion, a P/E ratio of 26.23 and a beta of 0.85.

Nokia (NYSE:NOK) last issued its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $0.06 earnings per share. Nokia’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts expect that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NOK shares. BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Wednesday, October 8th. BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nokia has a consensus rating of “Moderate Buy” and a consensus target price of $5.52.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.