134,020 Shares in Nokia Corporation $NOK Purchased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC bought a new position in Nokia Corporation (NYSE:NOK) during the 3rd quarter, HoldingsChannel reports. The firm bought 134,020 shares of the technology company’s stock, valued at approximately $1,359,000.

A number of other hedge funds also recently modified their holdings of NOK. IFP Advisors Inc raised its stake in shares of Nokia by 1,152.7% in the 2nd quarter. IFP Advisors Inc now owns 7,942 shares of the technology company’s stock valued at $105,000 after purchasing an additional 7,308 shares during the period. Marathon Trading Investment Management LLC acquired a new stake in Nokia in the 4th quarter valued at approximately $65,000. Gateway Wealth Partners LLC bought a new stake in Nokia in the 1st quarter valued at approximately $81,000. Waverly Advisors LLC acquired a new position in Nokia during the 1st quarter worth approximately $82,000. Finally, Foster Group Inc. bought a new position in shares of Nokia during the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. B. Riley Financial initiated coverage on Nokia in a report on Thursday, September 17th. They set a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Rosenblatt Securities assumed coverage on Nokia in a research report on Tuesday, September 15th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $14.12.

Trending Headlines about Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI infrastructure remains the key growth narrative. CEO Justin Hotard said AI demand is still well ahead of supply, supporting Nokia’s positioning in networking equipment and data-center infrastructure. Analysts have also raised modeled fair value from €7.39 to €10.72, citing Nokia’s role in AI and cloud infrastructure and approximately €2.8 billion in order intake. Nokia’s CEO Issues Bullish Verdict on AI Infrastructure Growth as NOK Stock Doubles Nokia Stock Fair Value Rises After AI and Cloud Analyst Optimism
• Positive Sentiment: Arelion completed a live Nokia optical-network trial on a 500-kilometer Amsterdam–London route. Nokia’s 1830 Global Express system and coherent optics demonstrated expanded spectrum, higher capacity and potentially better cost efficiency for wholesale, hyperscale and enterprise customers. Arelion Partners With Nokia to Demonstrate Expanded Optical Spectrum and Backbone Capacity
• Positive Sentiment: Nokia is pursuing additional growth markets. The company is pivoting toward Nvidia-backed AI radio-access networks in India and partnering with ICEYE on secure low-Earth-orbit broadband systems for governments, potentially expanding its exposure to AI, defense and sovereign communications. Nokia Pivots to Nvidia-Backed AI Radio Access Networks for India Nokia Targets Sovereign Satellite Communications for Governments
• Neutral Sentiment: Nokia’s planned 4G lunar-network work with NASA and recognition of employee Teemu Itälä reinforce its technology and innovation profile, but neither development is likely to have a material near-term earnings effect. Nokia and NASA Team Up to Bring 4G to the Moon
• Negative Sentiment: Analysts continue to flag cyclical telecom spending, intense competition and execution risk despite Nokia’s AI opportunity. The company is also ending its MoCA-based broadband partnership with InCoax because of limited market interest, indicating that not all connectivity initiatives are gaining traction. With the stock having already risen substantially over six months, investors may be taking profits while waiting for AI-related revenue to convert into sustained earnings.

Nokia Trading Down 4.6%

Shares of NOK stock opened at $10.13 on Friday. The stock has a market cap of $58.20 billion, a P/E ratio of 72.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. Nokia Corporation has a 1 year low of $5.11 and a 1 year high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $10.22 and a 200 day simple moving average of $11.38.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. On average, research analysts predict that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.