Central Pacific Bank Trust Division Takes Position in Nokia Corporation $NOK

Central Pacific Bank Trust Division acquired a new position in shares of Nokia Corporation (NYSE:NOK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 54,249 shares of the technology company’s stock, valued at approximately $720,000.

Several other large investors also recently added to or reduced their stakes in NOK. Analog Century Management LP purchased a new stake in shares of Nokia in the fourth quarter valued at about $104,244,000. QRG Capital Management Inc. raised its stake in Nokia by 34.6% during the fourth quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock worth $3,493,000 after purchasing an additional 138,935 shares during the period. SummitTX Capital L.P. boosted its holdings in Nokia by 219.4% in the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company’s stock valued at $1,974,000 after purchasing an additional 168,688 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Nokia in the 1st quarter valued at approximately $9,634,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Nokia by 1,177.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 663,654 shares of the technology company’s stock worth $5,336,000 after buying an additional 611,721 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Trading Down 3.5%

Shares of NYSE NOK opened at $9.57 on Thursday. 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 market capitalization of $54.98 billion, a PE ratio of 68.39, a PEG ratio of 1.17 and a beta of 1.19. Nokia Corporation has a twelve month low of $4.07 and a twelve month high of $17.45. The stock has a fifty day simple moving average of $12.47 and a 200-day simple moving average of $10.44.

Nokia (NYSE:NOK) last posted its 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 return on equity of 9.83% and a net margin of 3.49%.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 prior year, the company earned $0.04 EPS. Nokia’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

NOK has been the topic of several analyst reports. Northland Securities set a $20.00 price target on shares of Nokia in a research report on Wednesday, June 3rd. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, April 27th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research note on Monday, April 13th. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

About Nokia

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.