Trellus Management Company LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) during the third quarter, HoldingsChannel reports. The firm purchased 80,000 shares of the technology company’s stock, valued at approximately $446,000.
A number of other institutional investors also recently modified their holdings of NOK. BB&T Securities LLC acquired a new stake in shares of Nokia Oyj in the second quarter worth $105,000. OLD National Bancorp IN acquired a new stake in shares of Nokia Oyj in the second quarter worth $129,000. Suntrust Banks Inc. increased its stake in shares of Nokia Oyj by 75.7% in the first quarter. Suntrust Banks Inc. now owns 31,580 shares of the technology company’s stock worth $171,000 after acquiring an additional 13,606 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Nokia Oyj by 31.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,077 shares of the technology company’s stock worth $224,000 after acquiring an additional 9,657 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Nokia Oyj by 816.1% in the second quarter. Envestnet Asset Management Inc. now owns 40,988 shares of the technology company’s stock worth $236,000 after acquiring an additional 36,514 shares during the period. Institutional investors and hedge funds own 6.94% of the company’s stock.
NOK has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Wednesday, October 24th. Canaccord Genuity upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. ValuEngine lowered shares of Nokia Oyj from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Exane BNP Paribas lowered shares of Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. Finally, Credit Suisse Group upgraded shares of Nokia Oyj from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $5.56 to $7.00 in a research note on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.92.
Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 25th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Nokia Oyj had a negative net margin of 4.12% and a positive return on equity of 8.03%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.56 billion. On average, research analysts anticipate that Nokia Oyj will post 0.26 EPS for the current year.
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Nokia Oyj Company Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.
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