Prospera Financial Services Inc bought a new position in Nokia Corp. (NYSE:NOK) during the second quarter, Holdings Channel reports. The institutional investor bought 17,803 shares of the technology company’s stock, valued at approximately $101,000.
Other institutional investors have also recently made changes to their positions in the company. Stoneridge Investment Partners LLC increased its stake in Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock valued at $3,749,000 after buying an additional 98,194 shares during the period. Bank of Montreal Can bought a new stake in Nokia Corp. during the second quarter valued at $454,000. Financial Architects Inc increased its stake in Nokia Corp. by 2,991.3% in the second quarter. Financial Architects Inc now owns 25,009 shares of the technology company’s stock valued at $143,000 after buying an additional 24,200 shares during the period. Regentatlantic Capital LLC increased its stake in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares during the period. Finally, Creative Planning increased its stake in Nokia Corp. by 12.3% in the second quarter. Creative Planning now owns 57,704 shares of the technology company’s stock valued at $328,000 after buying an additional 6,342 shares during the period. 4.28% of the stock is owned by institutional investors and hedge funds.
Nokia Corp. (NYSE:NOK) traded up 0.53% during mid-day trading on Wednesday, hitting $5.74. 5,129,983 shares of the stock traded hands. The company’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.70. The stock has a market cap of $33.13 billion, a price-to-earnings ratio of 31.71 and a beta of 1.49. Nokia Corp. has a 1-year low of $5.01 and a 1-year high of $7.63.
Nokia Corp. (NYSE:NOK) last posted its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The business earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The business’s quarterly revenue was up 91.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Analysts predict that Nokia Corp. will post $0.20 earnings per share for the current year.
Several equities research analysts have weighed in on NOK shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $6.00 price target on shares of Nokia Corp. in a research note on Thursday, September 8th. Vetr downgraded shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target for the company. in a research note on Monday, July 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Zacks Investment Research downgraded shares of Nokia Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Nokia Corp. in a research note on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $7.18.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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