Bingham Private Wealth LLC Purchases New Position in Nokia Corporation $NOK

Bingham Private Wealth LLC purchased a new stake in Nokia Corporation (NYSE:NOK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,858 shares of the technology company’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. lifted its position in Nokia by 7,046.5% in the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after acquiring an additional 5,003 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of Nokia during the first quarter worth about $27,000. Farther Finance Advisors LLC boosted its stake in shares of Nokia by 58.4% during the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after buying an additional 2,651 shares during the period. Assetmark Inc. boosted its stake in shares of Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after buying an additional 7,286 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Nokia during the first quarter worth about $51,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Trading Up 1.2%

NYSE NOK opened at $4.96 on Tuesday. The stock has a market capitalization of $26.69 billion, a P/E ratio of 24.80 and a beta of 0.85. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $5.48. The firm has a 50-day moving average price of $4.43 and a 200 day moving average price of $4.86. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share. Equities research analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NOK. JPMorgan Chase & Co. decreased their target price on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Saturday, September 27th. BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. Finally, BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nokia has an average rating of “Moderate Buy” and a consensus target price of $5.52.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.