Troluce Capital Advisors LLC Invests $20.10 Million in Nokia Corporation $NOK

Troluce Capital Advisors LLC acquired a new position in Nokia Corporation (NYSE:NOKFree Report) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 2,500,000 shares of the technology company’s stock, valued at approximately $20,100,000. Nokia makes up approximately 1.2% of Troluce Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in NOK. J2 Capital Management Inc raised its stake in shares of Nokia by 2.0% during the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after purchasing an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Nokia by 6.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after buying an additional 1,450 shares during the period. Kathmere Capital Management LLC raised its position in shares of Nokia by 14.0% during the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock worth $97,000 after buying an additional 1,483 shares in the last quarter. Xponance LLC lifted its stake in shares of Nokia by 13.0% in the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,567 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock valued at $118,000 after acquiring an additional 1,591 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NOK shares. Danske raised Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Read Our Latest Report on Nokia

Nokia Stock Down 0.3%

NOK stock opened at $9.07 on Monday. The firm has a market cap of $52.11 billion, a PE ratio of 64.81, a P/E/G ratio of 1.04 and a beta of 1.17. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $13.37 and a 200 day simple moving average of $10.29.

Nokia (NYSE:NOKGet Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Nokia Corporation will post 0.41 earnings per share for the current fiscal year.

Key Stories Impacting Nokia

Here are the key news stories impacting Nokia this week:

Nokia Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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