Havemeyer Place LP Takes Position in Nokia Corporation $NOK

Havemeyer Place LP purchased a new stake in Nokia Corporation (NYSE:NOK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 455,225 shares of the technology company’s stock, valued at approximately $2,945,000. Nokia makes up 0.6% of Havemeyer Place LP’s investment portfolio, making the stock its 24th largest holding.

A number of other large investors have also recently added to or reduced their stakes in NOK. Arrowstreet Capital Limited Partnership lifted its holdings in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after acquiring an additional 14,482,665 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Nokia by 17.0% in the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after acquiring an additional 11,667,677 shares during the last quarter. ARGA Investment Management LP acquired a new position in Nokia in the fourth quarter valued at approximately $49,523,000. Alyeska Investment Group L.P. acquired a new position in Nokia in the third quarter valued at approximately $31,049,000. Finally, Marshall Wace LLP lifted its holdings in Nokia by 388.0% in the third quarter. Marshall Wace LLP now owns 6,770,192 shares of the technology company’s stock valued at $32,565,000 after acquiring an additional 5,382,727 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Down 13.7%

NYSE:NOK opened at $14.34 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $12.11 and its two-hundred day moving average is $8.73. Nokia Corporation has a 52 week low of $4.00 and a 52 week high of $17.45. The stock has a market capitalization of $82.32 billion, a price-to-earnings ratio of 89.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Nokia (NYSE:NOK) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The company had revenue of $5.21 billion for the quarter. Research analysts anticipate that Nokia Corporation will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a report on Monday, April 13th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Danske cut Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Barclays reiterated an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Nokia Profile

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.