Marathon Capital Management acquired a new position in Nokia Corporation (NYSE:NOK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,500 shares of the technology company’s stock, valued at approximately $225,000.
A number of other hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp lifted its holdings in Nokia Corporation by 0.6% in the first quarter. Stifel Financial Corp now owns 107,834 shares of the technology company’s stock worth $583,000 after purchasing an additional 691 shares during the period. Greenleaf Trust lifted its holdings in Nokia Corporation by 2.4% in the 2nd quarter. Greenleaf Trust now owns 33,585 shares of the technology company’s stock valued at $207,000 after acquiring an additional 801 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Nokia Corporation by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 82,075 shares of the technology company’s stock valued at $445,000 after acquiring an additional 1,359 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Nokia Corporation by 8.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock valued at $142,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its stake in Nokia Corporation by 3.8% during the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the technology company’s stock valued at $279,000 after buying an additional 1,900 shares in the last quarter. 5.86% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on NOK. Vetr raised shares of Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.22 price objective for the company in a research note on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 target price on shares of Nokia Corporation in a report on Thursday, July 27th. Bank of America Corporation reiterated a “neutral” rating on shares of Nokia Corporation in a report on Friday, June 2nd. Zacks Investment Research downgraded Nokia Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded Nokia Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.97.
Nokia Corporation (NYSE:NOK) traded up 2.912% on Friday, hitting $6.185. The company’s stock had a trading volume of 13,244,554 shares. The firm has a 50 day moving average of $6.26 and a 200-day moving average of $5.97. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65. The stock’s market cap is $34.96 billion.
Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. On average, analysts expect that Nokia Corporation will post $0.30 earnings per share for the current fiscal year.
Nokia Corporation Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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